PM Narendra Modi's 'Make in India' Pitch at Meeting with Chancellor Angela Merkel

Bengaluru: Prime Minister Narendra Modi and German Chancellor Angela Merkel held the Indo-German Summit in Bengaluru today. They discussed the role of technology and innovation in manufacturing and IT services for the government's 'Make in India' and 'Digital India' initiatives.

Here are the highlights of PM Modi's speech:

• We are on the path of making India a global manufacturing hub
• There is tremendous potential in India-Germany economic relationship.
• Indo-German economic relation remains below its full potential. We are working hard to create conducive conditions for business
• In last 15 months we have worked hard to make India a favorable place to set up business.
• At a time of a global slowdown, India represents a bright spot for investments
• We need to provide a huge push to manufacturing. Thats why we launched "Make In India"
• Transparent auction and allocation of spectrum and key resources have given a level playing field
• We have fast tracked approvals and clearances for industry and infrastructure
• We have taken very decisive steps to remove a number of long pending concerns of investors
• We have expedited regulatory clearances including security and environmental clearance
• Across the board we have increased the validity period of Industrial Licences
• We have introduced the GST Bill in parliament; we are hopeful to roll it out in 2016
• India is now at 9th place on UNCTAD's ranking of investment attractiveness and jumped 16 places on WEF's global competitiveness index.
• India is committed to protecting Intellectual Property Rights Rights of all innovators & entrepreneurs
• Such a huge potential for creation and production will not be available in any one country
• It is the software of India that will move the hardware of the world.
• Never before was India so well prepared to absorb talent, technology & investment from outside
• India is on the threshold of a big IT revolution; where technology will be leveraged to meet aspirations of 1.25 billion citizens