"After the new government (led by Modi) came out with a massive mandate they also worked out, of course, it is too early to formulate cogent policies for the full five years and get it reflected in the plan document and other documents but the first budget presented by the new government outlines some of the crucial policies and there is substantially continuity and there is change (in policy) where it has been found necessary to do it," Mukherjee said in a sudden extempore address at the Indian community reception in H Chi Minh City on the penultimate day of his four-day state visit to Vietnam.

Mukherjee also praised the NDA government’s foreign policy ventures, especially Modi's recent visit to Japan.

"One very positive aspect is that there is possibility of substantial FDI which was an important outcome of the prime minister's visit to Japan. And it is expected that in the next five years, investment from Japan would be around USD 25-35 billion," he said.

The President also welcomed the results of Australian Prime Minister Tony Abbott's  visit to India last week.

He also expressed high hopes for the much-awaited summit between Modi and US President Barack Obama in Washington later this month.

"Our Prime Minister is expected to have detailed interactions with US President Barack Obama and therefore the international atmosphere is favourable and I am (also) visiting Vietnam at this juncture when two fastest growing economies - India and Vietnam - are also engaged in having cooperation and interaction," he said.

Mukherjee also had a word of praise for Petroleum and Natural Gas Minister Dharmendra Pradhan, who is part of his official delegation, calling him lucky for seeing the global petroleum prices come down in his tenure.

In his prepared speech, Mukherjee had noted that every Indian in Vietnam has a significant role to play in bringing greater luminescence to and enhancing this relationship.

He held that he was confident that the Indian diaspora in Vietnam will continue to bring good name to India.

He also invited them to the Pravasi Bharatiya Divas to be held in Gandhinagar in January 2015.

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