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Modi Highlights India’s Progress at ASEAN Summit

Modi Highlights India’s Progress at ASEAN Summit

Attending the Association of Southeast Asian Nations (ASEAN) Summit held in Manila, Philippines on November 10 -14, India’s Prime Minister Narendra Modi highlighted the enormous progress India has made under his leadership.

“(The) task of transforming India is proceeding at an unprecedented scale. We are working day and night towards easy, effective and transparent governance,” he stated, adding that “I will continue doing the work for the people who chose me.”

Here are some of Modi’s key messages:

  • India has climbed 30 places in the World Bank’s Ease of Doing Business Index this year, representing the biggest jump by any country this year.

  • India has emerged as a frontrunner in attracting Foreign Direct Investment (FDI) because it is now a globally integrated economy.

  • Using technology to reach out to people has resulted in a significant increase in digital transactions, including increasing banking awareness through the Jan DhanYojna initiative.

  • The country’s Jan DhanYojna initiative has helped people develop a saving attitude, resulting in deposits of Rs 67000 crore in new accounts since its inception.

  • Almost 1200 outdated laws have been repealed in the last three years and processes to start new companies have been simplified in keeping with the government’s emphasis on ‘Minimum Government, Maximum Governance’.

 

Modi Meets with Trump

Good reports coming out of India: US President Donald Trump

PM Modi met with US President Donald Trump in a separate bilateral meeting at the ASEAN Summit.

The thrust of the bilateral talks was mainly on economic issues, trade and investment.

Modi said that the relations between the two nations are growing and that the two countries are working for future interests of Asia and humanity.

Trump noted that there are good reports coming in from India on the economic front.

 

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Disclaimer

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.