The Hague, May 16 -- Noting that manufacturing in India is now becoming very cost-effective and his government is offering incentives in several sectors to take it to the next level, Prime Minister Narendra Modi on Saturday urged companies in the Netherlands to design and innovate in India, saying "there could be no better time than today".

In his remarks at the CEO Round Table on Economic Ties, PM Modi said over 300 Dutch companies are part of the India story today.

"Recently, we have implemented next-generation reforms in areas such as taxation, labour codes, and governance. Manufacturing in India is now becoming very cost-effective. Electronics, once a major import item, has now become India's largest export item. To take this manufa...