Prime Minister Narendra Modi reiterated that the 'Make in India' programme would be a success because of the 3Ds namely, 'demographic dividend, democracy and demand'.
“I certainly believe that ‘Make in India’ is going to be successful. I also think that we have certain assets that other countries don’t have. We have the 3Ds. It is our unique strength. Demographic dividend, democracy and we have the demand,” Prime Minister Modi said during the interactive session at the Facebook headquarters here.
“I have added a new D. That is de-regularisation. I am trying to free everything from the government’s control.. The government doesn’t need to run a hotel. Other people can run a hotel and they should do it well,” he added.
The Prime Minister highlighted the strength of country’s massive youth, which would be instrumental in making the programme a success.
“We have a population of 800 million below 35 years of age. So, it’s a young country. It’s a vibrant democracy. We have a vibrant judiciary and a vibrant media. So, I think for like-minded countries this is an enormous opportunity. We have 1.25 billion people. I think that’s a huge demand,” said Prime Minister Modi.
The Prime Minister further said that low cost set up was an asset that the country had.
“Nobody in the world would want to close down their own company. Everyone would want to succeed in the competitive world,” said Prime Minister Modi.
“We are here at the Facebook headquarters. Now, supposedly you would have to give one million in India and ten million in other nations then anyone would want to come to India or not?” he asked the crowd.
“We can offer low cost manufacturing, effective governance, skill, manpower, raw materials and the biggest market in India. This is the potential that we have and I don’t think that this is something anybody can ignore. This is frankly a paradise for any manufacturer anywhere in the world,” he said.
The Prime Minister also talked about the increased Foreign Direct Investment (FDI) in India, saying it has risen to an average of about 40 percent.
“Currently, given the world’s recession, most of the world has -16 percent of FDI and we here are +40 percent. I think this in itself is very indicative of how successful India has been,” he said.
The Prime Minister also lauded Facebook CEO Mark Zuckerberg for connecting the world.