Prime Minister Narendra Modi has pledged to reinvigorate his flagship “Make in India” drive to develop a Chinese-style global manufacturing and export powerhouse, as part of the attempt to consolidate his country's position as the world’s fastest growing leading economy.

Speaking ahead of a week-long manufacturing showcase modelled on Germany’s annual Hannover Messe in the financial capital Mumbai, Mr Modi pledged to redouble reform efforts to attract global manufacturers to India, promising to improve the taxation treatment of foreign companies and ease the country's famously complex business climate.

“We want to make India a global manufacturing hub,” Mr Modi said. “There is an all round emphasis on ‘Ease of doing business’?.?.?.?We are also simplifying processes like licences, security and environmental clearances.”