Manufacture in India: Prime Minister Modi invites Dutch companies to design and produce

Prime Minister Narendra Modi on Saturday urged Dutch firms to design, innovate and manufacture in India. At a CEO Roundtable, Narendra Modi said India offered "immense opportunities\". Narendra Modi described the country as a sign of \"scale and stability\". Narendra Modi also said no other nation matched India’s speed in infrastructure, clean energy, and connectivity.

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Narendra Modi said India was contributing 17% to global growth. Narendra Modi linked this to ongoing reforms by the government. Narendra Modi said the reforms aimed to give businesses clearer rules and more certainty. Narendra Modi also said the government was easing requirements to help companies operate faster.

India-Netherlands partnership and reforms

Narendra Modi said the government had changed India’s \"economic DNA\" through steady reform steps. Narendra Modi said space, mining, and nuclear energy were opened to private players. Narendra Modi said these moves improved policy predictability for the private sector. Narendra Modi also said the government was cutting compliance burdens.

Narendra Modi said, \"We are continuously reducing compliance and increasing the ease of doing business. We have recently carried out next-generation reforms in taxation, labour code, and governance,\" and addressed business leaders at the roundtable. Narendra Modi said these steps were meant to widen private participation. Narendra Modi also highlighted stronger governance processes.

India-Netherlands partnership and manufacturing

Narendra Modi said manufacturing in India was becoming more cost-effective. Narendra Modi added that services were driving efficiency and innovation due to talent. Narendra Modi said global technology companies had opened global capability centres in India. Narendra Modi said, \"We invite all of you to design and innovate in India. There can be no better time for this than today,\".

India-Netherlands partnership and India-EU trade

Narendra Modi also spoke about an India-EU free trade agreement. Narendra Modi said the deal between the world’s two largest democratic and responsible powers would support shared prosperity. Narendra Modi said India and the Netherlands would take their trusted partnership forward. Narendra Modi said the plan was to make it a strategic partnership.

Narendra Modi said, \"The future of the India-Netherlands partnership is brighter than ever before,\". Narendra Modi was accompanied by Prime Minister of the Netherlands Rob Jetten. Both leaders witnessed the signing of an agreement between Tata Electronics and ASML. The agreement was to support the semiconductor Fab in Dholera, Gujarat.

ASML is a Dutch multinational corporation and supplies high-precision lithography equipment. The equipment is a key need in semiconductor chip manufacturing. Tata Electronics is a subsidiary of the Tata Group. Tata Electronics is building a semiconductor manufacturing facility in Gujarat, linked to the Dholera fab project.

With inputs from PTI