Come, invest in India’s growth: Modi

“As our rapidly transforming region navigates its way through uncertain times to a peaceful and prosperous future, we look forward to ASEAN leading the way in defining the regional architecture”, said PM Modi, who is in Malaysia on a three-day visit to attend the ASEAN-India Summit and East Asia Summit.

On economic relations, he said India has emerged as the fastest growing economy with a growth rate of 7.5 percent while Asean’s economy continued to forge ahead with dynamism and energy.

PM Modi said India hopes that all parties to the disputes in the South China Sea will abide by the guidelines on the implementation of the Declaration on the Conduct of Parties in the South China Sea and redouble efforts for early adoption of a Code of Conduct on the basis of consensus.

The overlapping territorial claims in the South China sea involve four ASEAN members – the Philippines, Malaysia, Vietnam and Brunei – as well as China and Taiwan, with China claiming most of the disputed areas. Premier Li, on his part, said India and China have more common interests than divergences, with compatible development strategies that have the scope for further consolidation. “I say this because of the track record of Asean countries”, PM Modi said amid loud applause.

I invite you to come and see the winds of change in India. Winds do take time to cross the borders. That is why I am here to invite you personally.

“That is how we have jumped up by 12 ranks in the World Bank’s Ease of Doing Business Report of 2016”.

Committing a transparent and predictable tax regime, the Prime Minister said, “We are moving fast to make sure that our tax regime is transparent and predictable. India’s trade with Malaysia is also vibrant, particularly in commodities sector”, Mr Modi said in a Facebook update.

“It was obvious that reforms are needed”.

“The thoughts and prayers of us all – Muslims, Hindus, Buddhists, Christians and people of others faiths – are with the people of Russian Federation, France, Lebanon and Mali as well as with the families of last month’s bombing in Ankara, and with the people of Syria and Iraq whose suffering has endured for so long”, he said. What is the aim of reform? “We have to touch lives, while reaching for the sky”, he said.