Asian regions to become world’s ‘growth engine’

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Efforts to promote entrepreneurship will make Southern and Southeast Asia primary drivers of global growth, Indian Prime Minister Narendra Modi said on Monday.

“I see the importance being given to the entrepreneurship in the Philipines and other Asean nations,” Modi said in a speech at the ongoing Asean Business and Investment Summit.

“Indeed for the near future, Southern and Southeast Asia will be the growth engine of the world,” he added.
Modi said Asean’s focus on mentoring micro, small and medium enterprises was a huge step forward in fostering the sector’s development.

The Asean Business and Advisory Council recently launched the Asean Mentorship for Entrepreneurs Network (AMEN), which Modi said “addresses another need of entrepreneurs.”

Given Southeast Asia’s growth, he said that connectivity was a “key objective of India.”

“ With the premise of connectivity, India is organizing an ASEAN-India connectivity summit in New Delhi next month,” he said.

“Just as India sees greater opportunities in the region, I am sure that the Asean community recognizes the potential of India. While some of you are already deeply involved in India, others are just discovering the possibilities that could be tapped,” he added.

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