Sutanu Guru argues how repeated gaffes or “communication” failures at the Telecom and IT ministries are denting the image of the Narendra Modi regime There is a cruel joke doing the rounds about the Union Telecom and IT minister Ravi Shankar Prasad. When he was a BJP spokesperson frequenting TV channels during the UPA regime, Mr Prasad had a habit of demanding resignations of various notables of the UPA regime. His detractors are now using social media platforms to wonder why he is not demanding his own resignation! Now, even die hard critics of the Modi regime- and there are legions of them- will not pass verdict that Prasad has proven to be a failure. But even Modi fans will admit that some unnecessary controversies surrounding the portfolios handled by Prasad have badly damaged the reputation of Modi as an “effective communicator” who values the power bestowed by the mobile phone and social media on the average citizen. There have been at least five instances where the Modi regime has been publicly embarrassed. The first such instance was when there was a judicial hearing about the validity of the draconian Section 66(A) of the IT Act. During the UPA regime, the section had been widely seen to be missed by authorities and the police to stifle dissent. Prime Minister Modi, who was a candidate then, had often publicly opposed the section as undemocratic. And yet, the IT ministry under Mr Prasad seemed to be sending confusing signals about whether the government wanted the section to stay or go. The Supreme Court eventually struck down the section, but Modi critics lost no opportunity-and legitimately so- for lampooning his alleged about turns on important issues. The second occasion when the Modi regime was taken to the cleaners related to the issue of banning porn. Out of the blue, the government banned porn sites across the country. When there were fierce voices of protest and reasoned critique that it would be both silly and impossible to ban porn sites, the government sought to take refuge under so called orders of the Supreme Court. After it was lampooned mercilessly by both Indian and global media - including social media - the government lifted the ban. And then came an even more silly “draft order” from the ministry about issues related to encryption. Suddenly, the media was full of stories about you and me had to store our social media and What’s App messages for a period of 90 days or face a prison term. Forget Modi critics, even Modi fans were outraged with this. Some Modi fans came up with a lame excuse that it was mischief created by some bureaucrats. That didn't help a bit and a red faced Minister Prasad had to publicly withdraw the stupid draft. Even as all this was happening, mobile phone subscribers in India were getting disgusted with the issue of “call drops”. The quality of services provided by telecom companies in India became a butt of jokes as millions suffered from this menace. Not much was heard about Minister Prasad taking a pro active step to at least try and address the issue. It took a stern message and a tick off from Prime Minister Modi for Minister Prasad to start making appropriate noises about how telecom companies in India must address the issue of call drops. Meanwhile, call drops continue. The fifth and most recent “gaffe” relates to the selection of brand ambassadors for the Digital India campaign, launched with much fanfare by Modi and Prasad towards the end of July this year. Even as Modi was creating a storm of goodwill and effective marketing in California, it emerged that an “ethical hacker” named Ankit Fadia was one of the brand ambassadors of Digital India. Many in the media pointed out that his credentials to be the brand ambassador of such a prestigious project were suspect, at best. The government promptly issued a clarification stating Fadia was not a brand ambassador. Within hours, the government issued another clarification that Fadia indeed was a brand ambassador. More egg on the face, as they say. Do remember, the carefully built persona and public image of Prime Minister Modi revolves around his passion for telecom and IT. What message foes out when the Telecom and IT ministries of his government fail such basic tests of communication. Perhaps the time has come to stop blaming only mischievous bureaucrats. How about some introspection Mr Prasad?
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Prime Minister Narendra Modi on Monday (28 September) asserted that countries should shun negativism and focus on a positive agenda to tackle climate change as he held talks with US President Barack Obama who said India's leadership at the Paris conference will set the tone for decades to come. "President and I share an uncompromising commitment on climate change, without affecting our ability to meet the development aspirations of humanity. We have both set ambitious national agendas," Modi said after his hour-long talks with Obama the focus of which was on climate change. During the talks, Modi underlined the need for concrete outcomes at the upcoming global conference on climate change in Paris starting November. Briefing reporters on Modi's meeting with Obama, Ministry of External Affairs Spokesperson Vikas Swarup said, "As far as the substantive issue of climate change is concerned, the PM made it very clear that the current climate of negativism was not a useful factor as we approach COP21 in Paris." "He (Modi) said that rather than just putting pressure, piling pressure...it would have been far more better if we had a positive agenda which enabled countries to go in for more sustainable paths of development by providing finance and the requisite technology," Swarup said. In a brief statement after the talks, Obama stated that much of his discussion with Prime Minister Modi was focussed on the upcoming climate conference. "We are encouraged by the aggressive nature of Prime Minister Modi's commitment to clean energy...I think India's leadership in the upcoming conference will set the tone not just for today but for decades to come," Obama said. "I have confidence our ability to partner with other large countries like China," he said. Talking about India's aggressive push for the cause of climate change, Modi said, "Our measures include not just a plan to add 175 GW of renewable energy by 2022, but a development strategy that will enable us to transition to a more sustainable energy mix." "This is an exercise we are undertaking in the spirit of our culture and tradition, but also because of our commitment to the future of this planet," he said. Modi said India and US' extraordinary bilateral partnership in the energy sector focuses on clean and renewable energy and energy efficiency. He thanked Obama for the positive response to his call for a global public partnership for developing affordable clean energy sources that will enable faster adoption of clean energy across the world. "We should work together to advance that goal. And, it is equally important to develop mechanisms to ensure that the affordable also become accessible to those who need it the most," Modi said. "We look forward to comprehensive and concrete outcome in Paris with a positive agenda on combating climate change, which also focuses on access to finance and technology for the developing world, especially the poor countries and small island states," he said. (PTI)
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Prime Minister Narendra Modi and President Barack Obama on Monday (28 September) decided to "further refine" the Indo-US strategic partnership while pushing ahead with cooperation in the areas of security, counter-terrorism, defence, economy and climate change. During the talks, Modi underlined the need for concrete outcomes at the upcoming global conference on climate change in Paris even as Obama said India's leadership at the meet will set the tone for decades to come. "We discussed how we can further refine our strategic vision," said Obama after the hour-long talks, third between the two leaders in over a year. He said the two leaders discussed how to move forward in various areas like security, economy, trade and investment as also cooperation to defence procurement. "On all these issues, the Prime Minister has been an outstanding partner," Obama said. Appreciating the US President's "friendship, vision and commitment for the relationship", Modi said the bilateral partnership addresses a broad range of strategic and security concerns - counter terrorism, cyber security, training. "Our defence cooperation, including defence trade and training is expanding. As existing terrorism threats grow and new ones emerge, we have resolved to further deepen cooperation on counter-terrorism and radicalism," the Prime Minister said. . With regard to climate change, both Obama and Modi expressed their commitment to meet the challenge faced by the world. "Much of our discussion today was focussed on the upcoming Climate Conference in Paris. We are encouraged by the aggressive nature of Prime Minister Modi's commitment to clean energy," the US President said about the meet beginning November 30. "I think India's leadership in the upcoming conference will set the tone not just for today but for decades to come," he said, adding he has confidence in the ability of the two countries to partner with other large countries like China in this regard. Modi said, "President and I share an uncompromising commitment on climate change, without affecting our ability to meet the development aspirations of humanity. We have both set ambitious national agendas." Pressing the need for developing mechanisms to ensure affordable as well as accessible sources of clean energy, the Prime Minister said, "We look forward to comprehensive and concrete outcome in Paris with a positive agenda on combating climate change. He said the outcomes of the Paris meet should focus on access to finance and technology for the developing world, especially the poor countries and small island states. "I also thank President Obama for his positive response to my call for a global public partnership for developing affordable clean energy sources that will enable faster adoption of clean energy across the world," he said. Adopting A Development StrategyModi said that in India, the measures include not just a plan to add 175 Giga Watts of renewable energy by 2022, but a development strategy that will enable the country to transition to a more sustainable energy mix. "This is an exercise we are undertaking in the spirit of our culture and tradition, but also because of our commitment to the future of this planet," he said. I thanked President Obama for U.S. support for India's permanent membership of a reformed UN Security Council. I also sought U.S. support to complete the reform process within a fixed time frame. During the meeting, Obama reiterated US support to India's permanent membership of the UNSC to which Modi thanked the President and sought US support to complete the reform process within a fixed time frame. "I expressed our appreciation for continued US support for India's membership of the international export control regimes within our targeted time frame," Modi added. The Prime Minister said the Indo-US partnership addresses a broad range of strategic and security concerns. He said the two sides agreed to further strengthen consultation and cooperation on helping the Afghan people combat terrorism and build a peaceful, stable and prosperous future of their nation. Modi said he also welcomed the progress in giving shape to the Joint Strategic Vision on Asia, Pacific and Indian Ocean Regions as also the joint engagement with regional partners like Japan. "This will also strengthen our maritime security cooperation," he added. "To further increase our strategic engagement in the region, I look forward to working with the US for India's early membership of Asian Pacific Economic Community," he said. Referring to the economic partnership, Modi said it is a key driver of the relationship and mentioned his "excellent" meetings with business leaders in New York and San Jose. "I am very pleased with their confidence in India and value their constructive feedback and suggestions," he said. "We will also continue to work towards a stronger bilateral framework of economic cooperation, including the Bilateral Investment Treaty and Totalisation Agreement," he said. Modi said his meeting with Obama and other engagements in the US demonstrated the "extraordinary depth and diversity" of the relationship. "Our meeting today was very productive in advancing some of our immediate priorities as also our broader strategic partnership," the Indian Prime Minister said. . Hailing the partnership with India, Obama said it reflects the fact that the two of the largest democracies in the world have an opportunity to help and define a common set of principles that the UN believes in. "We also had a chance to talk about trade and investment where our government and business leaders met again last week to forge new partnerships and create jobs and opportunities for Indians and Americans," the US President said. He welcomed Modi's call to the Indian diaspora in the US, "which is very large and sucessful", to contribute their talents to India's progress. He said India and the United States have found those principles that the governments are there to serve their people and to every one. Substantial ProgressExternal Affairs Ministry spokesman Vikas Swarup later said "substantial progress" has been made between India and US strategic and commercial dialogue. He said the two sides were working on Aircraft carrier technology. Indian Ambassador to the US Arun Singh said talks on it are at an advance stage, with the two sides identifying specific projects to implement. Swarup also noted that the meeting between Modi and Obama took place on a day India launched four US satellites, which reflected the kind of relationship the two countries have. He said Obama described India and US as natural partners. Fight Against TerrorismOn terrorism front, Modi said it is a global phenomenon and no country can be immune to it. He told Obama that time has come for the international community to come out in strong and united manner against the menace. To a question, Swarup said there was a mention of Pakistan in the context of terrorism. The Kashmir issue also came up and there was a broad acknowledgement that it is a bilateral issue between India and Pakistan, the spokesman said. Hailing the partnership with India, Obama said it reflects the fact that the two of the largest democracies in the world have an opportunity to help and define a common set of principles that the UN believes in. "We also had a chance to talk about trade and investment where our government and business leaders met again last week to forge new partnerships and create jobs and opportunities for Indians and Americans," the US President said. He welcomed Modi's call to the Indian diaspora in the US, "which is very large and sucessful", to contribute their talents to India's progress. He said India and the United States have found those principles that the governments are there to serve their people and to every one. External Affairs Ministry spokesman Vikas Swarup later said "substantial progress" has been made between India and US strategic and commercial dialogue. He said the two sides were working on Aircraft carrier technology. Indian Ambassador to the US Arun Singh said talks on it are at an advance stage, with the two sides identifying specific projects to implement. Swarup also noted that the meeting between Modi and Obama took place on a day India launched four US satellites, which reflected the kind of relationship the two countries have. He said Obama described India and US as natural partners. On terrorism front, Modi said it is a global phenomenon and no country can be immune to it. He told Obama that time has come for the international community to come out in strong and united manner against the menace. To a question, Swarup said there was a mention of Pakistan in the context of terrorism. The Kashmir issue also came up and there was a broad acknowledgement that it is a bilateral issue between India and Pakistan, the spokesman said. (PTI)
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The government may consider reducing its stake in state-run lenders to 52 per cent, Finance Minister Arun Jaitley said on Monday (29 September). The government would also consider other issues including problems tied to distressed state power providers, Jaitley said while speaking at a banking conference. His comments come amid continued concerns about the levels of distressed debt in the banking sector. The government was getting ready to unveil a draft for a bankruptcy code at the end of this month or in early October, Jaitley added. State-owned lenders have struggled to recover much of the bad debt piling up on their balance sheets using available mechanisms because of the lack of a bankruptcy code.
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Prime Minister Narendra Modi has invited Apple to set up a manufacturing base in India and its CEO Tim Cook responded positively, officials said here today. "The Prime Minister (in his meeting with Cook) said he would like Apple to start manufacturing in India. He mentioned the huge opportunities India offered," Ministry of External Affairs Spokesman Vikas Swarup told reporters. Foxconn, which is Apple's largest manufactures, has decided to set up a manufacturing base in India, he noted. "Cook responded positively. I think India does fits into his long term plans. He particularly was interested in the whole App development economy, which he said could be a very very important factor for entrepreneurship where individual app developers can just become part of the app universe," he said. Prime Minister Modi has been mentioning that there is the public sector, there is the private sector and there is the personal sector. Personal sector he has been talking about people who can be self-made entrepreneurs, Swarup noted. "Cook said by using the app development tools people can really become part of this huge industry. He gave the example of China where in fact we created 1.5 million jobs," he said. Indian Ambassador to the US Arun K Singh said that during the meeting there was a sense that a lot of design innovation is happening in India. "As Apple expands its presence in India including a manufacturing presence there could be enhanced opportunity for app development related to the apple platforms," he said. There was also some discussion on Apple Pay, how this can be part of Jan Dhan Yojana for instance and other such initiatives, Swarup said. During the meeting, Cook said India has a very special place in the heart of every Apple employee for the simple reason that its co-founder Steve Jobs went to India when he was a young man for inspiration. It was what he saw in India that inspired him to launch Apple. Cook expressed his great desire to be a partner in Prime Minister's Digital India initiative, which he thought was a transformative initiative, which could be a real game changer in India. In a statement to PTI, Cook said Apple has been operating in India for nearly 20 years. "We are fortunate to have many passionate customers along with a fast-growing developer community, and we're investing to expand our operations throughout the country," he said. "There are now over 4,000 places in India where customers can buy Apple products, and we look forward to launching iPhone 6s and iPhone 6s Plus there very soon," Cook said.(PTI)
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The Samajwadi Party may have opposed NDA’s proposed land bill tooth and nail at the Centre, but its government in Uttar Pradesh is turning a blind eye to a High Court order that quashes the acquisition of a stretch of land acquired near Allahabad for a power plant. Uttar Pradesh government authorities told Businessworld that “the due process (of law) was” on, but activists and farmers on the ground at Karchhana near Allahabad said that the state government was resorting to oppressive tactics, and even preventing social activists like Medha Patkar to meet with the aggrieved activists. The state government had acquired land for a power plant for at Karchana in 2007. However, no plant came up for nearly five years. The farmers, who were protesting the “forcible acquisition”, moved court and later the Allahabad High Court ordered that the land be returned to the farmers if they retuned the compensation amount. The farmers, in the meantime, wrote two letters – one to the state Governor and another to the PM. The letters said that since the farmers had been denied the opportunity to till their land for five years, they should be allowed to deduct the money which would have accrued to them through their farm produce in the last five years, from the compensation amount which they would return to the government. The Governor agreed with the farmers’ point. The PMO, however, passed on the letter to the CM, who passed it on to the DM, where the matter rests now. UP Government’s Principal Secretary, Information, Navneet Sehgal told Businessworld that “the due process of law was on at Karchhana, and that he would have to gather more details to answer more questions”. He, however, said that the land acquisition model in UP was far superior to those prevalent in other states, “because the government paid farmers four times the circle rate”. The National Alliance of People’s Movement’s Anshu Malviya, on the other hand, said that the local police had unleased a reign of terror in and around Karchhana, and on Sept 9, 42 people including 13 children – all from the project-affected families – were beaten up and put behind bars. When Medha Patkar wanted to hold a meeting with the aggrieved families there, she was denied the permission to visit the village. She along with 16 other activists, was arrested and later let off, on Saturday in Allahabad. The local administration later claimed that they had been detained so that a dialogue process can be initiated, said Malviya. Farmers have been protesting against three thermal power plants being constructed in the vicinity of Allahabad. These power plants, of 1320 MW each, at Karchana, Bara (both of Jaypee group) and Bara (of NTPC) impact more than 20 villages and some 5,000 families. The plants at Bara have come up, but nothing has come up at Karchana, leading to the Allahabad High Court’s intervention after the farmers petitioned the court. Farmers now allege that district authority is not complying with the court order, the administration claims that due process of law is being followed. Chief Minister Akhilesh Yadav has not spoken on the issue so far. In fact, no UP minister has spoken on the issue, though local SP representatives have condemned “police high-handedness”.
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Prime Minister Narendra Modi launched his ambitious Make in India campaign last September, pledging to lower barriers to doing business and promote foreign investment. He was hoping to transform Asia's third-largest economy into a manufacturing powerhouse like China. Modi now has less than four years before the next Lok Sabha elections to make good on his campaign pledge. If he doesn't show results soon, the young electorate that swept him into office could just as easily vote him out. Experts say around 10 million people are added to labour force every year, India needs to generate 30,000 jobs every day. The Narendra Modi-led National Democratic Alliance (NDA) government will have to increase manufacturing's contribution to gross domestic product (GDP) to 33 per cent. On the first anniversary of the signature programme, Modi is in the US seeking to strengthen bilateral ties, and wooing companies to invest more in India. It has been almost a year since the programme was launched, so it's fair to ask if it has yielded any results. Quite a few commentators and media columnists are of the view that without a strong manufacturing sector — which has forward as well as backward linkages to construction, transport and related service industries — there just won't be jobs for the 10 million-odd people entering our workforce every year. In simple terms, the economic impact of manufacturing in India will go beyond direct employment. It will create jobs in the services sector and allied services like logistics, transportation, retail and so on. "Despite the conventional wisdom that says India's place in the global economy revolves around digital bits and services rather than material atoms, the country is starting to attract more attention for its manufacturing potential for a number of reasons: India is the third-largest economy in purchasing power parity after the US and China, it has a large population of engineers and factory workers, its intellectual property is widely respected, and it is easy to find English-speaking managers there," write Vijay Govindarajan and Gunjan Bagla in an article in Harvard Business Review. So what impact has the Make in India mission had so far? On the foreign direct investment (FDI) front, there has been a 48 per cent rise in FDI in India during October 2014 to April 2015 against a year ago. According to the Centre for Monitoring of Indian Economy, investment projects worth Rs 63,172 crore were completed in the manufacturing sector in April-June 2015, highest since Janurary-March 2010 quarter. In June, Japan's SoftBank Corporation teamed up with Bharti Enterprises and Taiwan's Foxconn to invest around $20 billion in solar energy projects in the country. The government plans to expand the renewable energy sector five-fold by 2022. The joint venture will initially put up solar parks with imported equipment but subsequently look at manufacturing solar panels in India itself. The government has awarded a record 56 defence manufacturing permits to private sector entities in the past year, which is more than the 47 licences its predecessor United Progressive Alliance government granted in the preceding three years combined and underlines its determination to have indigenous defence production as a cornerstone of its 'Make in India' drive. Analysts believe that the success of Make in India programme depends heavily on building infrastructure by creating an enabling policy framework and a conducive environment to expand the domestic manufacturing sector, which will eventually enable millions of young Indians to find employment. Over the next five years, India needs to invest around $1 trillion in infrastructure development, which has largely been funded domestically till now. As manufacturing would require free flow of raw materials and finished goods, improving logistics infrastructure such as port-to-inland connectivity, cargo airports, and so on would be imperative and these developments promise to transform India into a global manufacturing hub. Electronics is perhaps the biggest success story of Modi's Make in India initiative, with assured investments of over Rs 90,000 crore over the next five to 10 years. India's large and growing market - for everything from mobile phones and LED TVs to steel, chemicals and power equipment - no doubt makes it a compelling place for producing stuff that can be directly sold here. So far, it seems that apart from FDI, Make in India has not been able to boost manufacturing. Factory output has been tepid, but the silver lining is the June and July IIP, which increased by 4.3 per cent and 4.2 per cent respectively. Exports from India are still not out of the woods, with as many as 23 key sectors, including petroleum, engineering and leather, declining in August mainly due to a fall in global prices and a demand downturn. Also, overseas consignments of Made in India goods have been in the red since December, 2014. India's economy expanded 7 per cent in the first quarter, well below expectations and slower than the preceding three-month period, putting a dent in the Modi government's optimism about a strong recovery. The government's latest attempt to amend income tax laws to exempt foreign companies from MAT retrospectively from 2001 may aid sentiment further, but a weak global environment may trip up the government's ambitious plans in the short-term. Foreign investors have been circumspect about committing project funds to India because it languishes at a lowly 142 in the global rankings brought out in World Bank's Doing Business study - way behind China (ranked 90), Sri Lanka (99) and Pakistan (128). Modi has promised to speed up decision making and reduce the role the government plays in business. “The world is not going to wait for us. I know that,” Modi told the CEOs of 42 American companies with a collective net worth of $4.5 trillion.
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The government targets to disburse Rs 1.22 lakh crore loan to micro and marginal businesses under the MUDRA scheme by the end of the current fiscal, Finance Minister Arun Jaitley said today. Launching a mega credit drive under the MUDRA scheme at an event organised by Punjab National Bank (PNB), Jaitley said till now, as much as Rs 24,000 crore has been disbursed under the scheme to about 37 lakh small entrepreneurs. "MUDRA is about funding the unfunded segment. MUDRA has the objective of facilitating the small segment as per their requirements. We are targeting a loan disbursal of Rs 1.22 lakh crore from the banking system to these small entrepreneurs by March 2016 so that they can establish some or other kinds of business and create new jobs," Jaitley said. The Finance Minister also handed over loan sanction letters to several entrepreneurs during PNB's Mega Credit Campaign. He said the government aims to cover around 1.25-1.75 crore small business people under MUDRA to disburse Rs 1.22 lakh crore by March 2016. Jaitley also said these people will be exempted from furnishing any kind of bank guarantee to avail of the loan under this facility. "These poor people need not give loan guarantee, neither they have resources to give the security. We have given them this facility. "We want to encourage crores of new entrepreneurs in the country. They will not be dependent on any kind of doles, but would be encouraged to stand on their own feet by these kinds of facilities," he added. MUDRA has been established as a subsidiary of SIDBI with an initial corpus of Rs 5,000 crore to provide capital to all banks seeking refinancing of small business loans under the Pradhan Mantri Mudra Yojana (PMMY). PMMY loans fall into three categories - Shishu (up to Rs 50,000), Kishore (Rs 50,000-Rs 5 lakh) and Tarun (Rs 5-10 lakh). Jaitley also said loans under MUDRA will not be given on favouritism, rather bank officials will see how these small entrepreneurs will use the amount, based on which they will be entitled to get the loan. "This money will not be a fair (mela) to give away money of state and private banks. It will be linked to business and related projects. Beginning a campaign today till October 2, we will take this loan programme forward to make it more popular," he added. The current focus of the government is on the Shishu category of micro loans, which encompass a range of small activities like shop-keepers, fruit sellers, vegetable vendors, mechanics, barbers, cobblers, small manufacturing units and a lot of other small service sector enterprises which borrow from money lenders and informal sources.
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As top American CEOs held no punches about the "obstacles" in ease of doing business in India, Prime Minister Narendra promised to fast-track the decision-making process, acknowledging that "the world is not going to wait for us". At a dinner hosted by Fortune magazine where 42 CEOs of manufacturing and infrastructure sectors were not "shy" in referring to a host of obstacles, he asked them to take advantage of the huge opportunities of investing in India. "Please continue to do more of what you are doing. May be slightly faster," CEOs of American companies with a collective networth of $4.5 trillion, told the Prime Minister. Fortune Editor Alan Murray, who moderated the discussion, said complicated regulations, excessive permitting, confusing bureaucracy, poor infrastructure and overlapping local taxes were raised by the CEOs who urged the Prime Minister to "pick up the pace of change". They praised the Prime Minister's efforts to improve the climate for business, while highlighting the obstacles. One of them said, "It is not an easy place to do business." The Prime Minister acknowledged their concerns and pledged to speed up efforts to reduce the role of the government in business. "The world is not going to wait for us. I know that," Modi said, according to a newsletter issued by Murray. "The high turnout of the CEOs highlights the prime position India holds in today's global economy. With China slowing, India's 7.5 per cent growth rate makes it the fastest growing major economy in the world today and many of the CEOs cited plans to expand there," Murray added. External Affairs Ministry spokesperson Vikas Swarup told reporters after the meeting, "By and large the mood was very upbeat. There is general consensus that the Prime Minister is effecting change in India. The only thing all the CEOs said is that please make that change faster." The CEOs present at the meeting included Lockheed Martin Chairman and CEO Marillyn Hewson, Ford President and CEO Mark Fields, IBM Chairman Ginni Rometty, Pepsi Co Chief Indra Nooyi and Dow Chemical Chairman Andrew Liveris. During the 'Roundtable with American Inc', the Prime Minister listened to each one of the CEOs present in the room about their concerns and plans for India and how these issues can be resolved, he said. Inviting the US companies to set up manufacturing units in India, Modi told them, "Reform in governance is my No 1 priority. We are for simplified procedures, speedy decision making, transparency and accountability." He also listed the sectors that have been opened up in India for investment and said that "FDI all over the world has fallen but in India it has increased by 40 per cent." "This reflects confidence in the Indian economy," Modi said while interacting with the CEOs from the manufacturing and infrastructure sectors. Briefing reporters about the day-long interactions that the Prime Minister had with the corporate world, Indian Ambassador to the US Arun K Singh said there were some suggestions made about "additional steps that can be taken in terms of ease of doing business". "Those are things that the government would assess," he added. Modi told the CEOs that fundamentally he believes in deregulation, the government should allow the private sector to develop and that he is for predictable, transparent and accountable governance. Singh said that it came through clearly that most people felt that this was a very good moment for India in the global context. During the meeting, Modi circulated a one-page fact sheet summarising the steps taken for deregulation, reforms and bringing consistency in the tax administration. "That note is based on hard facts, on what the government has actually done, what it has done for ease of doing business, where we all expect that when the next report comes, India should have jumped several places up," Swarup said. The factsheet also listed efforts made by the government in increasing FDI, efforts towards making a bankruptcy code, he said. The CEOs were appreciative of the Prime Minister's development vision of economic development, and the progress made over the last 15 months, an official statement said. "The Prime Minister highlighted his commitment for predictable, transparent and accountable governance. The CEOs expressed support for the Make in India, Skill India and Smart Cities initiatives," it added. Singh said some of the CEOs felt a lot of progress has been made in the last one year, but it has been inaccurately assessed and reported. "If you look at the global trends, this was the unique opportunity to move ahead, attract capital and finds moments in terms of market access and ability to produce both for domestic and for exports," he said. "There was support and appreciation expressed for the Make in India program, the Skill India program and the work related to smart cities, the focus on renewable energy. Some emphasis on the needs in the infrastructure sector and appreciation for the way in which the concept of smart cities has been approached," Singh added. Swarup said the CEOs felt that change was "afoot and visible" which was reflected in their upbeat mood.(Agencies)
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American media and entertainment industry leaders have made a strong pitch for early expansion of 4G network and TV digitisation during a meeting with Prime Minister Narendra Modi who told them that India offers "biggest opportunity and the biggest challenge for them". The CEOs, who included News Corp's Rupert Murdoch, Sony Entertainment's Michael Lynton, and Discovery Communications' David Zaslav, also called for strengthening of the mobile infrastructure. The focus was on the role that the media and entertainment industry can play in development and generation of employment opportunities in India. The CEOs -- representing 40 per cent of the world's entertainment industry -- appreciated Modi for "energetic and dynamic leadership" and expressed optimism about the future of India, an official statement said. They were enthusiastic about the digital transformation that is taking place in India through the 'Digital India' initiative, it said. They said that the current strong trajectory of the Indian economy makes it at a unique moment to accelerate growth in this sector. Modi said the world is now in a technology-driven era, where growth of digital infrastructure is as important as growth of physical infrastructure. "He suggested to the CEOs that India represents both the biggest opportunity and the biggest challenge for them, and urged them to keep regional languages in mind, as they firm up investment plans for India," the statement said. The Prime Minister spoke of the Government's vision to connect 600,000 villages through broadband connectivity. The CEOs present also included 21st Century James Murdoch, CEO of 21st Century Fox, Robert Thompson, CEO of News Corp; Uday Shankar, CEO of Star India. Others present at the round table were Michael Roth, CEO, Interpublic Group of Companies; Shane Smith, CEO, Vice Media; Martin Sorrell, CEO, WPP; Jeff Bewkes, CEO, Time Warner; Nancy Dubuc, CEO, A&E Networks; Anthony Pratt, chairman, Visy Industries; William Duhamel, Route One Investment Company and Jeff Ubben, CEO, ValueAct Capital. "All of them said India is the biggest market for them in terms of the phenomenal growth of the entertainment channels, in terms of the youth in India wanting more such content. They asked for speedier digitisation of the Indian systems," External Affairs Minister spokesperson Vikas Swarup told reporters. Shane Smith said he wanted early roll-out of the 4G systems as this was the bandwidth that they needed for the program contents to reach people as fast as possible. The CEOs said they do not have any issues with the existing norms but they wanted speedier expansion of broadband infrastructure, Swarup said. Modi also gave a number of suggestions in terms of how media and communications companies can be part of India s development story. One of the idea he floated was that of setting up of a communications university in India, Swarup said. Another aspect that came out during the round table that digital technologies and mobile platforms provided opportunity for democratisation of access to media for inclusion and empowerment and therefor building of more infrastructures would be a critical element of the both process in the coming years, said the Indian Ambassador to the US, Arun K Singh. There was discussion how media could be a partner in India's developmental agenda. For example in the tourism sector spreading more effectively messages related to tourism and historical sites and also training of people to act as effective partners in the process of hospitality and tourism, the Ambassador said. Responding to a question, Swarup said there was no mention of increasing the current 26 per cent cap on foreign direct investment (FDI) in the media sector.(Agencies)
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