Prime Minister Narendra Modi stretched his 'Make in India' campaign today to invite US-based General Electric (GE) to manufacture ships in India. "India offers immense opportunities for the ship-building sector," Modi said while inaugurating GE's multi-modal manufacturing facility at Chakan, in Pune.
"I congratulate GE and assure the world that there are many opportunities in India…I have seen how a state of art manufacturing facility is today. I want to congratulate GE," Modi said while inaugurating GE's first manufacturing plant in India.
The unit will manufacture a range of diversified products for sectors like energy, aviation, oil and gas transportation.
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 per cent.
The prime minister said Pune, which is now being labelled as the "Detroit of India," has immense potential to emerge as a hub of defence production. He also emphasised that the railway sector could become an engine of economic growth, and offered huge possibilities.
He said railway modernisation in the country offered great opportunities as the Indian Railways could be the economy's driving force. "We want India's railway sector to develop, get more technology, give speed and make it the driving force of our economy."
The prime minister said there were immense possibilities for manufacturing in India. He said India offered market and skill and that the government was working towards creating a pool of talented workforce which would attract investors 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.
With a GDP growth rate of 7.4 per cent, Modi said, India is now 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.
Modi also sought to assure foreign investors of policy predictability, stating the government was focusing on ease of doing business in India.
He complimented Maharashtra chief minister Devendra Fadnavis for doing a lot to improve ease of doing business, and reducing drastically the number of permissions required for setting up industry.
He particularly praised the chief minister`s initiatives in the hospitality sector.
GE had signed the MoU for the plant with the state government in 2013.