President's Secretariat
22-November, 2018 15:49 IST
Address by the Hon’ble President of India Shri Ram Nath Kovind At the luncheon banquet hosted by The governor General of Australia
- I thank you, Your Excellency, for your gracious words of welcome and warm hospitality.
- I am delighted to be paying the first Presidential visit from India to Australia. Our two countries enjoy warm and friendly relations underpinned by shared values and strong people-to-people ties. Commonwealth, curry and cricket once defined our shared culture, but we have moved beyond. We have expanded our ties in defence and security; trade and investment; technology and knowledge; and environment and energy fields.
- Our strategic partnership and our common geopolitical understanding have imparted a new salience to our bilateral engagement. It has made our agenda and action that much deeper and meaningful.
- Our togetherness goes back deep into history. When the new settlers arrived here in the 18th Century, the first supplies to support, nourish and house them were sent from India. The India connect only grew over time. Out of the first five Governors of this province, four had spent a substantial part of their careers in India. We cherish our historical connect, as much as we celebrate our contemporary partnership.
- Over the years, our ties have grown from strength to strength. Our economic collaboration has expanded several-fold and we both remain eager to investment more, trade more and transact more. Our knowledge, education and technology partnerships are challenging new frontiers. And together, we are bringing prosperity and growth for one and many.
- Excellency, in the past we have fought together, in trenches and in faraway lands, for freedom and liberty. And today we are harnessing energies to make the planet sustainable and secure. We are, indeed, proud of our partnership. Let us work to make India-Australia relations grow higher and stronger.
Thank you!
***
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President's Secretariat
22-November, 2018 15:50 IST
Address by the Hon’ble President of India Shri Ram Nath Kovind at the Australian Financial Review India Business Summit
- I am happy to be here to speak at the Australian Financial Review India Business Summit. I thank the organisers for the invitation to address Australia’s leading businesspersons and thought leaders. This is my first visit to your country in my capacity as the President of India and I am thankful too for the wonderful reception accorded by the Governor-General, the Prime Minister and the government and people of Australia. Coming to this beautiful city and savouring its scenic harbour, it has been easy to understand why people are so quickly charmed by Sydney – and by Australia.
- I must acknowledge the presence of Prime Minister Scott Morrison. We met this morning and had a meaningful conversation. I appreciate his leadership of Australia and commitment to the relationship with India, as well as his encouraging words on the recently released “India Economic Strategy”. About a week ago, in Singapore, he met our Prime Minister, Mr Narendra Modi, and my visit takes forward our dialogue, discussion and cooperation. I gather that Prime Minister Morrison has a taste for Indian food and in fact cooks a mean curry. I am sure he can help us come up with a recipe for even better Australia-India relations.
- Australia and India are united by a history of shared sacrifice on the beaches of Gallipoli; a shared vision for the peace and prosperity of a free, open and rules-based Indo-Pacific Region; a shared instinct for entrepreneurship; a shared hope for a prosperous and yet eco-friendly and environmentally sustainable planet; and a shared passion for cricket. For many Indian cricket fans, Australia is their favourite team – except when you are playing India but especially when you are competing for the Ashes. There are other attributes we share as well – the values of democracy, pluralism and human dignity, the English language – and the belief that at the simplest, most basic level, business, trade and technology must change lives of those sections of society who need change the most.
- Our countries have been among the beneficiaries of globalisation. Australia’s economy has expanded strongly in the past quarter-century. In this period, India’s economic integration with the global business system too has strengthened. In the ultimate analysis, a process such as globalisation is most meaningful when it helps the range of global stakeholders – from international corporations to local communities, whether in Australia or India. In recent years, India has renewed its commitment to a liberal, transparent and globalised economy. In terms of openness to foreign capital and international investors, India is in the top league. Business sector after business sector, from aviation to mining to defence production, has had doors thrown open to global players and investors.
- Such steps have been complemented by other initiatives at home. India is in the midst of an infrastructure push of unusual urgency. A determined accretion in highway construction; a nationwide urban and rural broadband rollout; creating new railway and freight corridors; an ambitious programme of modernising ports; high-speed train networks in major urban centres; expanding air connectivity using upgraded as well as greenfield airports; industrial corridors that are gathering momentum – the buzz of construction is everywhere. Large cranes and armies of workers in hard hats dot the Indian landscape. India is in business.
- India’s growth is different from that of many others. We are the first major country that is seeking to make that leap into industrialisation while also combating climate change, and while reducing the intensity of dependence on fossil fuels. I will not bore you with statistics – in the context of India, they are always large and impressive – but there is one number I want to share with you. India has set itself a target of 175 gigawatts of renewable energy by 2022, of which 100 gigawatts will comprise solar energy. We are on course to not just achieving that target but exceeding it.
- Fiscal and regulatory processes have also been significantly revamped. A little over a year ago India inaugurated the Goods and Services Tax regime. This has brought the 29 states of our country on a common tax platform. It is already making for a cleaner and more structured business system. In parallel, on the World Bank Ease of Doing Business Index India has moved up from a rank of 142 in 2014 to 77 in 2018. This 65 step jump is the biggest for any single country.
- All of these measures – fiscal and regulatory, infrastructure promotion and investment policy – are aimed at making India even more of a hub for new, exciting and global businesses. These could be in manufacturing and services, in agricultural industries as well as emerging technologies. Our Make in India programme is gathering pace. It aims to promote India as a design, fabrication and manufacture location – not in isolation, for that is neither possible nor desirable, but as part of global and Indo-Pacific value chains. I am happy to note that mass-transit rail coaches made in India have recently been exported to Australia. From textiles to automobiles there are so many other made-in-India products in which we could interest you.
- The international business community has responded to India’s achievements with appreciable investment. In financial year 2017-18, India drew about US$ 62 billion. This was an acknowledgement of India’s honest and reformist efforts – and of its high GDP growth. In the previous quarter, for instance, our economy grew by 8.2 per cent.
- An underlying theme of economic and social transformation in India is the role of technology and innovation. India’s traditional strength in IT is well-known. There are many Indian IT companies that have invested in Australia itself, adding value to companies and clients here and employing young Australians. In India, technology is acquiring a wider base as well as climbing up the chain. A start-up culture that is the world’s third largest has made entrepreneurs of young students and led to businesses being incubated on campuses, in small homes, and even little farms, where the farmer is using her excess produce to negotiate a better price in a larger market. Inevitably, India’s digital economy, its e-commerce companies, its technology start-ups and its fin-tech innovators are attracting FDI.
- Frankly the big country and big friend that we are not seeing as much of, in the India investment story, is Australia. This is a gap we need to address. Australia and India have too much at stake in each other to not up their game. We can collaborate and benefit from each other’s expertise in fin-tech and logistics, in industrial design and biotech, in the capital markets and in farm-to-fork management of the food chain – even in space tech and satellite launch services, where India’s long-standing space programme will be happy to support the new Australian Space Agency. It’s not that Australian companies are not present in India – it’s just that there is still enormous room for us to work together.
- The Indian market offers Australian companies and investors a huge consumer base and the prospect of considerable returns. Australian super-funds or pension funds have a reputation for careful, calibrated investment decisions. They will find the Indian infrastructure space worth their while – with long-term investments, steady to high returns, confidence in growing consumption, and security in contractual adherence. Let us put our heads together and create investment products that work for Australian super-funds and Indian infrastructure and that work for Australian pensioners and Indian consumers – and that lead to a win-win situation.
Ladies and Gentleman,
- Along with investment, bilateral trade numbers have grown but remain below potential. India-Australia trade was valued at about US$ 21 billion in 2017. Our trade basket must grow. I am confident that we will make progress on the Australia-India Comprehensive Economic Cooperation Agreement. In the recent Regional Comprehensive Economic Partnership meeting held in Singapore, India and Australia, along with the other negotiating partners, made significant progress. India is positively and constructively engaging in the negotiations and will contribute to the conclusion of RCEP by 2019. India looks forward to a balanced outcome that results in a modern, comprehensive and mutually beneficial economic Partnership.
- In many senses, society is already ahead of governments. The Indian community in Australia is adding value to the economy. The Indian diaspora has a reputation for contributing to local business ecosystems as well as opening job and innovation avenues for its host country. Silicon Valley is a case in point. I have been told that here in Australia, India-born migrants are the second-highest tax-paying diaspora after United Kingdom born migrants. That must please the Prime Minister. And in India too, Australians are a growing part of the workforce in fields as far apart as software and entertainment. The Indian Premier League, perhaps the hottest cricket start-up of all time, recruits many high-performing and highly-paid cricket professionals from Australia – players, coaches and support staff. In their own way, the Indians in Australia and the Australians in India are showing us the future.
Ladies and Gentlemen,
- They say cricket is a metaphor for life. I believe it is also a metaphor for business. Australian businesspersons and investors looking to India should borrow from the methods of cricketers. The most successful Australian batsmen in India have been those who have shown patience, read the conditions carefully, settled down for a long innings, nurtured dependable partnerships – and not fallen for spin.
Come to India. The pitch is ready!
Thank you Mr Prime Minister and thank you everybody. Have a nice evening.
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President's Secretariat
22-November, 2018 15:48 IST
Address by the Hon’ble President of India Shri Ram Nath Kovind at the Australia-India Business Council Event
- I am happy to address this annual Australia-India Business Council event. The Council has been a key player in driving Australia-India business and investment connect. I applaud your initiatives and efforts. We commend your economic outreach, and as much, your strategy to get Australia-India stakeholders from diverse areas together. These have, obviously, paid rich dividends.
- India and Australia are close and natural friends. There is a special comfort and bond between our two countries. Our shared values and commonalities, not the least our passion for cricket and cinema, have helped us establish a vibrant partnership.
- In recent years, we have stepped up our Strategic Partnership deepening our engagement in defence, security, technology and people-to-people ties. There is matching energy and heightened policy focus on our trade and investment relations as well. In this context, I am happy that the Australian side has come up with the “India Economic Strategy” report. We welcome it. It has promising ideas and prospects. We also welcome Australian government response to the report. Prime Minister Morrison’s articulation on this few hours back has been most encouraging. The AIBC, I am sure, will take lead in supporting the recommendations.
Ladies and Gentlemen,
- India and Australia share strong economic complementarities. Australia’s steady and stable growth, over several decades, has made it a shinning story; and India’s economic rise today is a global talking point. Built on this shared prosperity, our bilateral trade in goods and services has jumped over 75 per cent in the last five years and stood at US$ 21.5 billion in 2017. Our service sector engagement based on education, professional services and tourism flows has also seen a significant jump. We can, no doubt, do much better with a forward looking mobility partnership. India remains committed to take the proposed Comprehensive Economic Cooperation Agreement forward to further boost our trading ties.
- Our investment relations, however, comparative to our respective economy size and prospects, are yet to take-off. The two-way cumulative investment stands at just under 30 billion Australian dollars. I am certain this would change fast and soon.
- Australian pension funds, high-end technologies and innovative products are a natural fit for Indian growth and development. We can do lot more together be it on trade, investment, technology, skills or education. Prospects and possibilities are not just manifold but limitless. We should collaborate with each other on cyberspace, artificial intelligence, block chain development and next-generation technologies to shape and guide the Fourth Industrial Revolution. And we should harness the potential of blue economy and green growth for the benefit of future generations and a climate-smart world.
- The prospect to collaborate and transact gets even more magnified, if you set it, in the backdrop of the transformational economic changes happening in India. India has been the fastest growing large economy in the world for quite some time. Last quarter, we grew 8.2 per cent. With a current GDP of US$ 2.6 trillion, we are on course to become a 5 trillion dollar economy by 2025. During the same period, India is set to become the third largest consumer market in the world.
- Our path-breaking economic reforms have led to a jump of 65 notches on the World Bank Ease of Doing Business Index in the last four years. And the introduction of the Goods and Services Tax has made India, a country of 1.3 billion people, into One Nation, One Tax, One Market for the first time in its history. India has been ranked as the 58th most competitive economy in the World Economic Forum’s Global Competiveness Index for 2018. India’s rank rose by five places as compared to 2017, the largest gain among the G-20 countries. Global investor confidence in the country is at all-time high. We received FDI worth over US$ 200 billion in the last four years.
- Indian infrastructure sector is booming. We have built 10,000 kilometers of expressways last year alone. We are at work to build 100 Smart Cities, 7 high speed train corridors and 10 greenfield airports. For Australian super funds with considerable investible surplus and its resource sector, our infrastructure projects present an exciting opportunity. Similar business opportunities exist in the Indian agriculture and food processing sectors as well. We seek your collaboration in putting up logistic chains and water and energy efficient agri-techniques to boost our food security options.
- In the energy field, we are adding new capacity in nuclear, renewable and conventional segments. We have a target to achieve 175 gigawatts of renewable energy, including 100 gigawatts of solar energy by 2022. Over US$ 250 billion worth of investment are projected to flow into the sector over the next few years.
- We are keen to leverage Australian technology, business practices and expertise to enhance our Make in India, Digital India, Clean India and Skill India programmes. Thanks to our sustained efforts, India has emerged as key manufacturing hub of the world in several areas including passenger cars, two-wheelers, consumer electronics and mobile handsets. Our IT, start-up, fin-tech, nanotech and biotech capacities also provide immense opportunities for Australian market to learn and earn from.
Ladies and Gentlemen,
- There is a world of opportunities waiting for you in India. They are enticing you to run, to leap and to hop-skip-and-jump. I like your cultural expression - “mate” and “mateship”. I hope to see more mates and mateship between the business communities of Australia and India. I take this opportunity to thank the Government of Australia for welcoming Indian businesses in this country. I am confident of their continued support. Let us work together for stronger Australia-India engagement.
Thank you!
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President's Secretariat
22-November, 2018 15:48 IST
Address by the Hon’ble President of India Shri Ram Nath Kovind On the occasion of unveiling of the Statue of Mahatma Gandhi
- I am delighted to be visiting Paramatta. It is an honor for me to unveil the statue of Mahatma Gandhi, our Father of the Nation in these beautiful surroundings. I thank you for honouring him in your country. And I thank Prime Minister Morrison for his august presence here.
- This initiative has a very special meaning. To help spread his legacy and timeless message across the world, the Government of India had, just a month ago, launched a two-year long series of events on the occasion of his 150th birth anniversary year. I warmly invite all of you to join us in these celebrations.
- Mahatma Gandhi belongs not just to India, but to the entire world. His universal teachings have a special resonance in all corners. In these times of strife, his powerful message of nonviolence and peaceful coexistence stands all the more relevant. His favourite bhajan or song “Vaishnava Jan To Tene Kahiye” the essence of which is compassion, kindness and goodness for others, for once and for always, without letting pride enter one’s mind. This captures the inner voice of the Mahatma. I thank your melodious singer Heather Lee for giving her voice to the song as a tribute to our Father of the Nation. Many others, across the five continents, have also paid a similar tribute to his thought and legacy.
Ladies and Gentlemen,
- Mahatma Gandhi’s ideas and values resonate, deeply and powerfully, in this land. There is a special connect between Gandhian thought and the Australian way of life. Mahatma Gandhi always championed the cause of environment and nature. His idea of compassion and kindness extended beyond the human pale around him. He had deep respect for forests, rivers and our habitat. These are values that you passionately own, share and keep close to your hearts in your daily lives.
- On another note, Gandhiji and the Australian society strike a common cord. He, as you do, had the deepest regard and respect for multicultural ethos. He said and I quote – “I do not want my house to be walled in on all sides and my windows to be stuffed. I want the cultures of all lands to be blown about my house as freely as possible.” –unquote. As a country which is home to people from every part of the world, Mahatma Gandhi’s legacy could not be more relevant to its values and ethos.
- The statue to be unveiled today on the initiative of Paramatta City Council also symbolizes the historic bond that ties our nations together. As the world’s largest democracy and as a country that celebrates its diversity and openness, we take immense pride in our relations with Australia. The vibrant link at the people-to-people level adds vigor and vitality to this relationship.
- Going forward, I am optimistic that our two countries, which share so much in common, can achieve so much more together. On this special occasion, I am especially gratified by the presence of a large number of Indian diaspora members. They serve as a living bridge between their new home and the land of their ancestors. Gandhiji himself was a “pravasi” or an expatriate. He lived in South Africa for 21 years before he returned to India and went on to change the course of our history.
- I am happy to note the tremendous contribution made by hundreds of thousands of qualified, hardworking, diligent and enterprising Indian Diaspora members in the nation making of this beautiful country. I convey to them and to all Australians good wishes and love from the people of India.
- May we all resolve today to draw inspiration from the life and teachings of Mahatma Gandhi and work for the lasting benefit of humanity? I once again thank the Lord Mayor for making this event a success and all those who have contributed to this wonderful initiative.
Thank you!
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President's Secretariat
22-November, 2018 15:45 IST
President of India Holds Talks with Australian Governor-General and Prime Minister; Addresses Australian Financial Review Summit; Unveils Statue of Mahatma Gandhi in Sydney
The President of India, Shri Ram Nath Kovind, had a packed schedule in Sydney today (November 22, 2018) on the second day of his visit to Australia. The President held talks with Governor-General Peter Cosgrove and Prime Minister Scott Morrison; was accorded a ceremonial reception and hosted at a luncheon banquet by the Governor-General at Admiralty House; and unveiled, along with the Australian Prime Minister, a statue of Mahatma Gandhi at the Jubilee Park in Parramatta, near Sydney. The President also delivered two major addresses – at the Australian Financial Review India Business Summit; and at the Australia-India Business Council dinner event hosted in his honour.
As part of President Kovind’s visit, five agreements have been concluded between India and Australia. These are:
- An agreement between the Government of India and the Government of Australia for cooperation in the area of disability and to deliver services to the differently-abled
- An agreement between Invest India and Austrade to facilitate bilateral investment
- An agreement between the Central Mine Planning and Design Institute, based in Ranchi, and the Commonwealth Scientific and Research Organisation, based in Canberra, to foster scientific collaboration and innovation
- An agreement between the Acharya N.G. Ranga Agricultural University, Guntur, and the University of Western Australia, Perth, for cooperation in agricultural research and education
- A Joint PhD agreement between the Indraprashta Institute of Information Technology, Delhi, and the Queensland University of Technology, Brisbane
President Kovind and Prime Minister Morrison were together on three separate occasions today, including during their morning round of talks. Several issues came up in their wide-ranging discussions, including trade and investment, the need to expand the trade basket from simply a few commodities, and the strong connections forged by the Indian diaspora.
In the afternoon, speaking at the Australian Financial Review India Business Summit, at which Prime Minister Morrison was also present, President Kovind said that in recent years India has renewed its commitment to a liberal, transparent and globalised economy. In terms of openness to foreign capital and international investors, India is in the top league. Business sector after business sector, from aviation to mining to defence production, has had doors thrown open to global players and investors. Several measures – fiscal and regulatory, infrastructure promotion and investment policy – have been taken to make India even more of a hub for new, exciting and global businesses.
The President said that the international business community has responded to India’s achievements with appreciable investment. In financial year 2017-18, India drew almost US$ 62 billion in FDI. This was an acknowledgement of India’s honest and reformist efforts – and of its high GDP growth.
The President noted that the big country and big friend that we not seeing as much of in the India investment story is Australia. This is a gap we need to address. Australia and India have too much at stake in each other to not up their game. We can collaborate and benefit from each other’s expertise in fintech and logistics, in industrial design and biotech, in the capital markets and in farm-to-fork management of the food chain – even in space tech and satellite launch services. India’s longstanding space programme, the President said, will be happy to support the new Australian Space Agency.
The President said that Australian super-funds or pension funds have a reputation for careful, calibrated investment decisions. They will find the Indian infrastructure space worth their while – with long-term investments, steady to high returns, confidence in growing consumption, and security in contractual adherence.
Ending his speech on a lighter note, the President urged Australian businesspersons and investors looking to India to borrow from the methods of their cricketers. The most successful Australian batsmen in India, he said, have been those who have shown patience, read the conditions carefully, settled down for the long innings, nurtured dependable partnerships – and not fallen for spin!
In his final engagement of the day, at the Australia-India Business Council event, the President praised the Council as a key driver of Australia-India business and investment. He expressed confidence that the Council’s members would further bilateral trade and engagement.
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The Prime Minister of Australia, Mr. Scott Morrison calling on the President, Shri Ram Nath Kovind, at Sydney, in Australia on November 22, 2018.
The President, Shri Ram Nath Kovind being accorded ceremonial welcome by the Governor General of Australia, General Sir Peter Cosgrove, at Admiralty House, in Sydney, Australia on November 22, 2018.
The President, Shri Ram Nath Kovind being escorted by the Governor General of Australia, General Sir Peter Cosgrove, at Admiralty House, in Sydney, Australia on November 22, 2018.
The President, Shri Ram Nath Kovind addressing at the Australian Financial Review India Business Summit, at Sydney, in Australia on November 22, 2018.
The President, Shri Ram Nath Kovind addressing at the Australia-India Business Council Event, at Sydney, in Australia on November 22, 2018.
