'You are the Factory of the World, We are the Back Office,' Says PM Modi in China

Shanghai: PM Modi is in Shanghai for the last leg of his China visit. He met with CEOs of top Chinese power houses and pushed for 'Make in India'.

Here are the highlights of his address at the India-China business forum:

• India and China have a common history of 5,000 years and a common boundary of over 3,000 kms
• China and India are two great and old civilizations of the world. Together, today we represent more than one third of the world population
• I believe the century belongs to Asia
• Our ideas had a role to play in your innovation, we have a lot in common and can do a lot together
• The Indian concept of zero and nine planets have had a role to play in Chinese innovations
• In recent times also the stream of knowledge is flowing across our borders
• India has always been a knowledge society. You have been an innovating society
• As we helped each other growing spiritually, we have to help each other growing economically
• The scope and potential, the breadth and length of infrastructure and related developments is very huge in India
• We are going to develop smart cities and mega industrial corridors, we have refined our FDI
• We are modernizing our Railways and planning metros in 50 cities
• We also want to promote manufacturing in a big way particularly to create jobs for our youth who form 65 per cent of our population
• Once you decide to be in India, we are committed to making you more and more comfortable
• It is also the effort of my government to encourage innovation, research & development and entrepreneurship in the country
• In our first budget, we said we will not resort to retrospective taxation
• You already know the direction of our government and the steps we are taking, we have committed ourselves to creating a business environment
• Within a very short time we introduced GST bill in our Parliament
• An all-time high allocation has been made for roads
• You are the factory of the world. We are the back office of the world. Together we can bring about progress and prosperity for both our people

Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.