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ASEAN Summit: PM Narendra Modi presents India as an attractive investment destination

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ASEAN Summit: PM Modi presents India as an attractive investment destination

[vc_row][vc_column][vc_column_text]Inviting ASEAN countries to ramp up investment in India, Prime Minister Narendra Modi on Monday spoke of the economic reforms undertaken in the country to boost trade and investment.

Earlier in the day, PM Modi met US President Donald Trump on the sidelines of the 31st ASEAN Summit in Manila, Philippines. Trump reportedly congratulated the Indian leader for “a lot of good reports coming out of India”.

Modi arrived in Philippines on Sunday for a three-day visit during which he will also attend the 12th East Asia meet on Tuesday.

Addressing the ASEAN meet, the PM said the task of transforming India is proceeding on an “unprecedented scale”. Speaking at the ASEAN Business Forum in Manila, the Philippines capital, the Prime Minister said most sectors of the Indian economy were opened up for foreign direct investment, adding the country’s economy is now “globally integrated.”

The trade ties between India and ASEAN are on an upswing and both sides want to further boost the trade and investment cooperation.

The ASEAN region, along with India, together comprises a combined population of 1.85 billion people, which is one fourth of the global population and their combined GDP has been estimated at over $3.8 trillion.

Investment from ASEAN to India has been over $70 billion in the last 17 years accounting for more than 17 per cent of India’s total FDI. India’s investment in ASEAN during the same period has been more than $40 billion.

Modi sought to highlight India’s economic reforms to woo investors. “The task of transforming India is proceeding on an unprecedented scale. We are working day and night to ensure good governance which includes easy, effective and transparent governance,” he said, noting that more than 90% FDI sectors are on automatic approval route.

Modi listed major economic reform measures taken by his government, including rolling out of the Goods and Services Tax (GST) and new laws and institutions for bankruptcy and insolvency proceedings. He said 1,200 out-dated laws have been repealed in the last three years as part of reform measures.

“India has climbed 30 places in the World Bank Ease of Doing Business Index this year. It is the biggest jump by any country this year and a recognition of India’s long term reform trajectory. And, the world is taking notice. We have moved up 32 places in the last two years in the Global Competitiveness Index of the World Economic Forum,” said Modi.

He said various reform measures coupled with demonetisation of high-value notes have resulted in formalising a large part of the Indian economy.

On trade with ASEAN countries, Modi said India wants to build land, sea and air connectivity to this dynamic region and that work is already on in the construction of the tri-lateral highway through Myanmar and Thailand to connect to other countries in South East Asia.

“We are working on the early conclusion of the Agreement on Maritime Transport between India and ASEAN and are exploring coastal shipping services with countries that are our immediate maritime neighbours,” he added.

“The ‘Act East’ policy of my government puts this region at the centre of our engagement. We have exceptionally good political and people-to-people relations with each and every country in the ASEAN region,” he said.

Modi said his government wants to make India a global manufacturing hub and at the same time it wants the youths of the country to be job creators and not just job seekers.

The Prime Minister said 36 “white industries” have been taken out from the requirement of environmental clearance. Incorporating a company is now just a one day affair, he said.

The PM also talked about the open auction policy for natural resources including telecom spectrum, coal mines and other minerals and even private radio channels, which he said has together contributed about $75 billion in revenue.

“Using technology, we are enhancing responsibility and reducing discretion and corruption. We are using our Unique ID system in financial transactions and taxation for this purpose and the results are already visible. These steps, coupled with demonetisation of high-value notes, have resulted in formalising a large part of our economy,” he said.

Modi said the number of new tax payers filing income tax returns has more than doubled and that digital transactions have increased by 34% in one year, as “we march towards a less-cash economy.”

“We have used technology to reach out to people. An online citizen engagement platform, MyGov has harnessed ideas, suggestions and inputs on policies and programmes from 2 million pro-active citizens,” he added.

On GST, he said it has done away with a vast range of State-level and Central-level taxes through-out India. “This is no small achievement given the vastness and diversity of our country and the federal nature of our polity,” he added.

Prime Minister Narendra Modi said a “very large part” of India’s population had no access to banking services and launch of the Jan Dhan Yojana resulted opening of 197 million bank accounts in one year, adding till August this year, 290 million such accounts have been opened in Indian banks. He said more than 146 million people are receiving direct cash subsidies through bank accounts on cooking gas alone.

“Today, the government is using Direct Benefit Transfers for 59 different schemes. Subsidies worth nearly $10 billion are being directly transferred to the bank accounts of the intended beneficiaries,” he added.

“For the first time in India, collateral-free loans have been disbursed to more than 90 million small entrepreneurs under the Mudra scheme. Very near to the population of Philippines,” the PM said.

He said India is organising an ASEAN-India Connectivity Summit in New Delhi next month with Ministers, officials and business representatives from all ASEAN countries. India is also organising an ASEAN-India Commemorative Summit of ASEAN leaders in January next year.[/vc_column_text][/vc_column][/vc_row]

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Khaleda son Tarique Rahman arrives to rapturous welcome in Bangladesh

Tarique Rahman returned to Bangladesh after 17 years and, in his first speech, invoked Martin Luther King while outlining what he called a plan for the country’s future.

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Khalida Zia son

Bangladesh Nationalist Party (BNP) acting chairman Tarique Rahman, who returned to Bangladesh on Thursday after 17 years in exile, outlined his political vision in his first public address, drawing a comparison with American civil rights leader Martin Luther King Jr.’s famous “I have a dream” speech.

Addressing a massive gathering in Dhaka, Rahman said that just as Martin Luther King spoke of a dream, he wished to speak of a concrete plan for Bangladesh. He referred to the country as “Beloved Bangladesh” and thanked party leaders, workers and citizens who stood by the BNP during his absence.

Rahman, the son of former President Ziaur Rahman and former Prime Minister Khaleda Zia, said that his plan would succeed only with public support and urged citizens to participate actively in nation-building.

Parallels drawn with 1971 and 2024 movements

In his speech, Rahman linked the 1971 Liberation War with the 2024 uprising against the government of former Prime Minister Sheikh Hasina. He said those who lost their lives in these movements should be honoured by building the country they had envisioned.

“We liberated Bangladesh in 1971, and we liberated it again in 2024,” he said, adding that the events of 2024 were about defending the country’s independence and sovereignty. He stressed the need to “repay the blood debt of the martyrs” through responsible governance.

Emphasis on tolerance, safety and economic rights

Touching upon Bangladesh’s social fabric, Rahman said the country belongs to everyone, irrespective of religion or geography, and underlined the importance of tolerance. He spoke about creating a safe environment where women, men and children can move freely without fear.

He also said the BNP would focus on peace, political reform and strengthening the economy. Referring to student leader Sharif Osman Hadi, Rahman said he had dreamt of a democratic Bangladesh and promised justice in connection with his killing, along with restoring people’s economic rights.

Call to youth and visit to Khaleda Zia

Rahman called upon the younger generation to take responsibility for development and stability, stressing that collective effort would be crucial to implementing his plan for Bangladesh.

After the address, he left to visit his ailing mother, Khaleda Zia, who is undergoing treatment at Evercare Hospital.

Rahman has been living in exile since 2008 following convictions in multiple corruption cases, which he has described as politically motivated. He has also alleged that the previous government attempted to assassinate him through torture.

With the Awami League barred from contesting elections, the political landscape has narrowed significantly. The BNP now holds a dominant position, and Rahman’s return has added fresh momentum and uncertainty to Bangladesh’s political future.

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Tarique Rahman returns to Dhaka after 17 years, massive crowd greets BNP leader

Tarique Rahman returned to Bangladesh after more than 17 years in exile, with thousands of BNP supporters gathering in Dhaka to welcome the party’s acting chairman.

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Tariq Rahman

Thousands of people poured onto the streets of Dhaka on Thursday as Bangladesh Nationalist Party (BNP) acting chairman Tarique Rahman returned to the country after more than 17 years in self-imposed exile in the United Kingdom. Rahman, who is the son of former prime minister Khaleda Zia, landed in the capital along with his wife Zubaida Rahman and daughter Zaima Rahman.

Supporters and party leaders marched from the Banani Airport Road towards Dhaka airport to welcome him, turning the stretch into a sea of BNP flags and slogans. Rahman was later escorted in a bulletproof vehicle as part of heightened security arrangements for his high-profile return.

Bulletproof convoy and reception in Purbachal

After arriving at the airport, Rahman was received by senior BNP leaders before heading to a large reception organised in the Purbachal area. Party workers and leaders lined both sides of the road to greet him during the journey. According to party expectations, a very large gathering assembled at the venue, where Rahman was scheduled to address supporters.

BNP leaders said only Rahman would speak at the event, while other senior figures remained present on the stage. His return is being closely watched as he has emerged as a key political figure ahead of Bangladesh’s upcoming general elections.

Visit to ailing mother and family residence

Following the public address, Rahman was expected to visit Evercare Hospital to meet his mother, former prime minister Khaleda Zia, who has been undergoing treatment there for over a month. After the hospital visit, the family was scheduled to go to Firoza, the Zia family residence in Gulshan.

Security across Dhaka was tightened during Rahman’s movement, with police deploying additional forces to prevent any untoward incident amid recent political tensions in the country.

Political backdrop of the return

Rahman’s return comes at a time when the BNP is seen to be gaining political ground following the ouster of former prime minister Sheikh Hasina in a student-led uprising last year. Surveys conducted in December indicate the BNP could secure the largest number of seats in the upcoming parliamentary elections, while other parties, including Islamist groups, are also in the fray.

Alongside political developments, personal reasons have also played a role in Rahman’s decision to return, particularly his mother’s prolonged illness, which party sources describe as a key factor behind the move.

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Bangladesh student leader killing sparks allegation against Yunus-led interim government over February polls

The killing of Bangladesh student leader Sharif Osman Hadi has led to protests and serious allegations against the Yunus-led interim government over the February national election.

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The killing of Bangladesh student leader Sharif Osman Hadi has triggered sharp political allegations, with his family accusing elements within the Muhammad Yunus-led interim government of attempting to derail the country’s upcoming national election scheduled for February.

Sharif Osman Hadi, spokesperson of Inquilab Moncho — a cultural platform that emerged from the July 2024 uprising — was shot at close range in Dhaka on December 12. He was later airlifted to Singapore for advanced treatment, where he succumbed to his injuries on December 18. His death led to violent protests in parts of the capital, including attacks on offices of newspapers and cultural organisations.

Brother alleges political motive behind killing

At a protest gathering in Shahbagh, Sharif Osman Hadi’s brother, Sharif Omar Hadi, accused a section of the interim government of orchestrating the killing to disrupt the election process.

“You had Osman Hadi killed, and now you are trying to foil the election by using this as an issue,” Omar said while addressing protesters. He claimed that his brother was firm on holding the national election by February and did not align himself with any agency or “foreign masters”.

Omar demanded a swift and transparent trial, warning that delays would damage the election environment. He alleged that the authorities have failed to show any visible progress in the investigation so far.

“If justice for Osman Hadi is not delivered, you too will be compelled to flee Bangladesh one day,” Omar said, drawing an apparent reference to former Prime Minister Sheikh Hasina, who left the country following last year’s nationwide protests that resulted in a change of regime.

Claims of wider conspiracy surface

Leaders of Inquilab Moncho also alleged that the killing was part of a broader conspiracy to undermine the gains of the July uprising and weaken Bangladesh’s sovereignty. They claimed that international intelligence agencies and their local collaborators were involved in the murder.

The group demanded that the government identify and present the accused through an investigation meeting international standards within a fixed timeframe. They warned that protests would intensify if their demands were not met.

Protesters said demonstrations would continue until justice is delivered for Sharif Osman Hadi.

Protest plans and political developments

Leaders of Inquilab Moncho announced that they would not hold any programmes on December 25, the day when Bangladesh Nationalist Party’s acting chairman Tarique Rahman is scheduled to return to the country. They expressed hope that Rahman would extend solidarity to their movement demanding justice.

The allegations and ongoing protests have added to political tensions in Bangladesh as the interim government faces growing scrutiny ahead of the proposed February election.

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