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Deng Xioaping didn't go to the USA to invite USA businesses to invest in China, in the very early eighties. No, what he did was change the rules and laws in selective parts of China SEZ, where foreign and Chinese companies were given free reign to do their businesses, exclusively focused on exports.
Modi can promote India all he likes, but unless the FUNDAMENTAL anti-business climate in India is changed, his begging and urgings in the USA will come to naught.
Deng was in charge of a totalitarian state, with highly centralised rule, and a nation steeped in efficient bureaucracy.
India on the other hand............its Modi's skills of what he can do....in India.
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PM Modi dines with Fortune 500 CEOs, invites them to 'Make in India'
.
Times of India
Prime
Minister Narendra Modi met top CEOs in the US, listing the various
sectors that India has opened up for investments and inviting the US
business leaders to 'Make in India'.
"Reform in governance is my number 1 priority. We are for simplified
procedures, speedy decision making, transparency and accountability,"
Modi told the top 47 CEOs from the Fortune 500 companies whom he met
over dinner on Thursday.
"FDI all over the world has fallen but
in India it increased by 40 percent. This reflects confidence in the
Indian economy," the Prime Minister said.
READ ALSO: On Day 1 of US trip, PM Modi signals: India now open for business
The Prime Minister said India is ready to welcome them (CEOs) with both
hands and it is the right time for them to come and invest in the
world's largest democratic country.
Fortune Editor Alan Murray moderated the discussion.
Among the CEOs of Fortune 500 companies who attended the dinner were
Lockheed Martin Chairman and CEO Marillyn Hewson, Ford President and CEO
Mark Fields, IBM Chairman Ginni Rometty, Pepsi Co Chief Indra Nooyi and
Dow Chemical Chairman Andrew Liveris.
Citigroup Chairman
Michael O'Neill, MasterCard CEO Ajay Banga, Boeing International
President Marc Allen, Goldman Sachs President Gary Cohn, Blackstone
President Hamilton James, SanDisk co-founder Sanjay Mehrotra, Harman
International Chairman Dinesh Paliwal and Time Inc CEO Joe Ripp were
also present on the occasion.. The
dinner came after PM Modi's meeting with top executives of major media
and communication companies where he presented India as a
technology-driven society, and pledged protection to Intellectual
Property Rights (IPR).
"This is a technology driven era. We are
a technology driven society," he said at a roundtable meeting with the
top executives of companies like Comcast, Time Warner, Discovery, Sony,
ESPN, News Corp, 21st Century Fox, Disney Industries, ABC television
group.
The focus of the Prime Minister's meeting with over
dozen media honchos was to understand about the trends in media and
communication technologies and the opportunities for India.
READ ALSO: PM sells 'Brand India' to media barons in US
Earlier in the day, the Prime Minister met eight of the top 10
financial entities in the US, including JP Morgan and Blackstone, where
he outlined efforts made during the last 15 months to increase
investment in key areas like infrastructure.
Some of the CEOs, after the meeting, said that they were satisfied with the progress of the reform.
"The government has already undertaken a massive amount of reforms. Key
message from the US companies was keep doing what you are doing. I had a
great meeting, there was a constructive dialogue in the spirit of
collaboration. We are looking at India trying to get foreign direct
investment," J P Morgan CEO James Dimon said.
COMPLETE COVERAGE: PM Modi's US visit
Blackstone CEO Stephen A Schwarzman said that he felt the Prime
Minister was open to the suggestions the CEOs put before him to improve
access to the country.
