Pune dubbed “Detroit of India” has immense potential to emerge as a hub of defence production, said Prime Minister Narendra Modi while Inaugurating GE’s multi-modal manufacturing facility at Chakan, Pune. Prime Minister Modi said that the world is taking note of India’s GDP growth, which has risen to 7.4 percent – and added that experts are now describing India as the fastest growing economy in the world. He said that he expects this to rise even further, and that the 21st century would be Asia’s century, with India playing a key role in it.
Prime Minister said there were immense possibilities for manufacturing in India. He said India’s demographic dividend was a magnet to attract investment. He said the Government was working towards creating a skilled talented workforce which would attract the world to India. He said global technology (Vishwa Dhan) and the talent of Indian youth (Yuva Dhan) could together result in a win-win situation for all.
The Prime Minister said the Government was working towards predictability in policies and laws, that would boost confidence of investors.
The Prime Minister congratulated GE for the state of the art manufacturing facility they had set up, and welcomed GE’s announcement for further investment. He said this was a big boost to the ‘Make in India’ initiative.
The Prime Minister said that in India, water, land and sky – jal thal aur nabh – all had great possibilities in manufacturing. He invited GE, which is already present in land and sky, to also invest in water – implying shipbuilding. He invited GE to invest in defence manufacturing, where FDI has been raised to 49 percent.