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India Promises Investors More Red Carpet, Less Red Tape

Posted September 29, 2014

Under Economic Issues, International Trade Issues

(AFP)

Prime Minister Narendra Modi pledged Thursday to slash red tape and harness the benefits of a huge young population as he launched a campaign to attract global business to manufacture in India.

India’s business-friendly new leader wants to revive his country’s flagging economic fortunes by kick-starting a manufacturing sector long eclipsed by that of neighboring China.

“We don’t need to invite the world to India, they are ready to come. We just need to give them our address,” Modi said at the launch of his ‘Make in India’ campaign. “India is the only country in the world that has the power of democracy, demographic dividend and demand,” he added, saying India’s young people stood to benefit from manufacturing growth. Read more here.