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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 He said 1,200 out-dated laws have been repealed in the last three years as part of reform measures.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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Trump may visit India next year as US envoy calls New Delhi Washington’s most essential partner

The US has described India as its most essential global partner, with ambassador-designate Sergio Gor indicating a possible visit by President Donald Trump next year.

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The United States has said that no country is more essential to its global interests than India, with US ambassador-designate Sergio Gor indicating that President Donald Trump may visit India within the next year or two.

Speaking at the US Embassy in New Delhi, Gor highlighted the close personal rapport between Trump and Prime Minister Narendra Modi, describing their relationship as genuine and resilient even in times of disagreement.

India-US ties anchored at the highest level

Gor said the partnership between India and the United States is rooted not only in shared strategic interests but also in strong leadership-level engagement.

He noted that while differences may arise between the two countries, they are resolved through dialogue, reflecting the maturity of the relationship. According to him, India’s scale and global standing make bilateral cooperation both complex and crucial.

Trade talks to resume from January 12

The ambassador-designate confirmed that the next round of India-US trade negotiations will begin on Tuesday, January 12. Acknowledging the challenges involved, Gor said both sides remain committed to reaching an agreement.

Trade, he said, is a vital pillar of bilateral ties, alongside cooperation in areas such as security, counter-terrorism, energy, technology, education and health.

Trump-Modi friendship described as ‘real’

Gor reiterated that he has personally witnessed the bond between Trump and Modi during international engagements, stressing that the friendship goes beyond diplomacy.

Recalling conversations with the US President, he said Trump often speaks positively about his previous India visit and his relationship with the Indian Prime Minister.

Possible Trump visit to India

Indicating a potential presidential visit, Gor said Trump could travel to India in the next one or two years. He described his own appointment as an effort to elevate the bilateral partnership to a new level, calling the India-US relationship a meeting point of the world’s oldest and largest democracies.

India to join Pax Silica alliance

Gor also announced that India will be invited to join the US-led Pax Silica alliance as a full member next month.

The initiative aims to develop a secure, resilient and innovation-driven global silicon supply chain, reinforcing India’s role in strategic technology partnerships.

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Trump says Iran wants talks amid protests, warns US may act before meeting

Donald Trump claims Iran’s leadership wants negotiations amid mass protests, but says the US may take action before any talks are held.

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US President Donald Trump has claimed that Iran’s leadership has reached out to his administration seeking negotiations, even as large-scale anti-government protests continue across the country and Washington signals possible military action.

Speaking to reporters aboard Air Force One, Trump said Iranian leaders had contacted him after his recent warnings. “The leaders of Iran called yesterday,” he said, adding that a meeting was being planned. However, he cautioned that the United States “may have to act before a meeting.”

The remarks come amid reports of deaths during protests in several Iranian cities. Trump accused Iran’s rulers of maintaining control through force, saying there were indications that people had been killed who “aren’t supposed to be killed.”

He said the US military was closely monitoring developments and that senior officials were reviewing what he described as “very strong options.” Trump said he was receiving hourly briefings on the situation and that a decision would be made after assessing all factors.

When asked if Iran had crossed a red line, Trump declined to provide operational details, saying he would not disclose how or where the US might act. “We’re gonna make a determination,” he said.

Addressing reports of fatalities among protesters, Trump suggested that some deaths occurred due to crowd stampedes, while others involved gunfire. He did not provide specific figures or details.

Trump also issued a strong warning against any retaliation by Iran or its allied groups. He said any such response would be met with unprecedented force, stating that the US would strike “at levels that they’ve never been hit before.”

The US President said Iran should already be aware of Washington’s resolve, referring to previous American actions against high-profile militant leaders and what he described as the elimination of Iran’s nuclear threat.

Trump did not clarify whether the US had coordinated with allies on a potential response or outline a timeline for further action.

Iran has witnessed repeated waves of unrest in recent weeks, with thousands of people participating in protests against the current regime in cities across the country.

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Trump again threatens forceful takeover of Greenland citing US security concerns

Donald Trump has again suggested the US could use force to take control of Greenland, brushing aside Denmark’s sovereignty and linking the move to Arctic security concerns.

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US President Donald Trump has once again raised the possibility of using force to take control of Greenland, dismissing Denmark’s sovereignty over the autonomous Arctic island and framing the issue as a matter of US national security.

Speaking at a White House meeting with oil executives on Friday, Trump said the United States would act on Greenland “whether they like it or not,” reiterating his long-standing interest in acquiring the mineral-rich territory.

“I would like to make a deal, the easy way. But if we don’t do it the easy way, we’re going to do it the hard way,” Trump said when asked about Greenland.

Trump links Greenland control to Arctic security

Trump argued that Washington cannot allow rival powers to gain a foothold in Greenland, citing increased military activity by Russia and China in the Arctic region.

“We’re not going to have Russia or China occupy Greenland. That’s what they’re going to do if we don’t,” he said, adding that the US would act either “the nice way or the more difficult way.”

While Russia and China have stepped up their presence in the Arctic in recent years, neither country has made any territorial claim over Greenland.

Denmark and allies react with concern

Trump’s remarks have sparked strong reactions in Denmark and among European allies. Denmark, which governs Greenland as an autonomous territory, has expressed shock over the repeated threats.

Danish Prime Minister Mette Frederiksen warned that any invasion of Greenland would bring an end to “everything,” referring to NATO and the post-World War II security framework.

The United States already operates a military base in Greenland, underscoring its existing strategic presence in the region.

Trump dismisses Danish sovereignty claims

Despite the backlash, Trump played down Denmark’s concerns and questioned its historical claim over the island.

“I’m a fan of Denmark, too,” he said, adding that the country had been “very nice” to him. However, he remarked that Denmark’s historical presence did not automatically translate into ownership of Greenland.

“The fact that they had a boat land there 500 years ago doesn’t mean that they own the land,” Trump said.

Meanwhile, US Secretary of State Marco Rubio is scheduled to meet Denmark’s foreign minister and representatives from Greenland next week, as diplomatic tensions over the issue continue.

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