PM Modi invites ASEAN to be part of India's new economic journey

Asserting that the country and ASEAN have "no irritants" in their ties, Prime Minister Narendra Modi on Wednesday invited the 10-nation bloc to be part of the country's "new" economic journey even as his strong 'Make in India' pitch got the support of the grouping.

Modi in his interaction in Hindi at the round table said that a "new era" of economic development, industrialisation and trade had begun in the country and that the rapidly developing country and ASEAN can be "great partners" for each other.

Noting that the government's 'Look East' policy has become 'Act East' policy, the Prime Minister assured the ASEAN leaders that he will give his "sustained personal" attention to the country's relations with the regional bloc.

"We have embarked on a new economic journey in India, we invite you to this new environment in India," Modi said. ASEAN plans to become one economic community by the end of 2015.

The prime minister's comments came at a time when the government seeks to deepen its engagement with the bloc of 10 small and medium economies.

At the same time, Modi said the potential for India-ASEAN ties is much higher than where they stand at the moment.

Presently, India-ASEAN trade is around US $76 billion which is just three per cent of total ASEAN trade. They have set a target of US $100 billion for bilateral trade by 2015.

The Prime Minister noted that both India and ASEAN are keen to enhance their cooperation in advancing balance, peace and stability in the region.

"My government has been in office for six months and the intensity and momentum with which we have enhanced our engagement in the East, is a reflection of the priority that we give to this region," Modi said at the summit held at the sprawling Myanmar International Convention Centre on the second day of his 10-day tour of Myanmar, Australia and Fiji.

The Prime Minister also said that in this age more than physical connectivity there was a need for information highways or i-ways.

Besides having an interaction with the ASEAN leaders at the Round Table, Modi also met them for separate bilateral meetings during which his flagship 'Make in India' campaign found resonance.

"I fully agree and admire the concept of the 'Make in India' campaign. It can drive the economy. Thailand can apply it for its economy too," Modi's Twitter handle quoted the Thai Premier Gen Prayut Chan-o-cha as having told him.

The campaign also figured during the premier's interaction with his Malaysian counterpart Najib Razak.

"I am giving (a) lot of emphasis to Make in India and want to invite Malaysian companies to come to India. There are lot of opportunities," Modi tweeted after the meeting.

At another meeting, the Prime Minister's Singaporean counterpart Lee Hsien Loong told him that there is lot of goodwill for the country in the ASEAN.

ASEAN comprises of 10 countries - Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.

(PTI)