Entrepreneurs want Govt to take steps to improve ease of doing business
Updated: Jun 13, 2014 12:12:16pm
New Delhi, Jun 13 (KNN) An industry delegation has met the Minister for Commerce and Industry, seeking the government’s support to improve competitiveness of the Indian industry, while suggesting various measures to improve ease of doing business.
The Federation of Indian Chambers of Commerce and Industry (FICCI) delegation met with the minister here yesterday.
The industry body has suggested a number of measures to enhance ease of doing business including setting up of a Regulatory Review Committee to review business regulations, laws and processes, giving States flexibility to amend/implement laws on concurrent list subjects like labour, environment, increasing use of Information Technology in public service delivery, and reducing compliance through Common Application/Return Forms, Self-certification, third party certification, according to an official release.
On their expectations, "Manufacturing can be a core enabler of growth and job creation. Government's support in enhancing competitiveness, scale and gaining global market access can inspire enterprises to invest, expand and create jobs. We need an integrated vision to achieve competitiveness", said President, FICCI, Sidharth Birla.
Emphasizing the need to improve ‘Ease of Doing Business’, Birla said, that to create an encouraging environment for investors, the procedural reforms must be accelerated.
FICCI's 'Empowering India' project has in-fact identified the key areas for improvement in public governance and procedures across major states. “We firmly believe that states should be given freedom and flexibility in matters related to land, labour and environment, critical factors for industrial competitiveness," he said.
In their representation, the delegation has also specified some reform factors of production: While much progress has been made in liberalizing product markets, the focus must now shift towards liberalizing factor markets.
In this regard, the new Land Acquisition Act must be reviewed and implementation issues should be resolved. Government must show the way forward on land acquisition by acquiring contiguous land of (say) 500 acres for (say) extended railway or PSU projects, without invoking special rights and at par with industry.
Further, the government should set up a Task Force to review labour laws in the context of integrating growth and manufacturing agendas with job creation. Grandfathering existing laws for existing workforce may be considered wherein amended contemporary laws are applicable for new entrants to the workforce.
FICCI has also recommended that energy sector reforms need to be expedited to ensure reliable power supply to enterprises; and that measures are required to enable lowering of cost of capital for industry, especially small and medium enterprises.
With regard to trade related measures, the industry has pointed out that there is an urgent need to review existing FTAs and its impact on manufacturing. India's domestic industry must be made competitive simultaneously by implementing reform agenda.
The delegation also made other suggestions related to fast tracking project investments, and accelerating development of industrial corridors and clusters to stimulate economic activity in the country. (KNN/ES)
The Federation of Indian Chambers of Commerce and Industry (FICCI) delegation met with the minister here yesterday.
The industry body has suggested a number of measures to enhance ease of doing business including setting up of a Regulatory Review Committee to review business regulations, laws and processes, giving States flexibility to amend/implement laws on concurrent list subjects like labour, environment, increasing use of Information Technology in public service delivery, and reducing compliance through Common Application/Return Forms, Self-certification, third party certification, according to an official release.
On their expectations, "Manufacturing can be a core enabler of growth and job creation. Government's support in enhancing competitiveness, scale and gaining global market access can inspire enterprises to invest, expand and create jobs. We need an integrated vision to achieve competitiveness", said President, FICCI, Sidharth Birla.
Emphasizing the need to improve ‘Ease of Doing Business’, Birla said, that to create an encouraging environment for investors, the procedural reforms must be accelerated.
FICCI's 'Empowering India' project has in-fact identified the key areas for improvement in public governance and procedures across major states. “We firmly believe that states should be given freedom and flexibility in matters related to land, labour and environment, critical factors for industrial competitiveness," he said.
In their representation, the delegation has also specified some reform factors of production: While much progress has been made in liberalizing product markets, the focus must now shift towards liberalizing factor markets.
In this regard, the new Land Acquisition Act must be reviewed and implementation issues should be resolved. Government must show the way forward on land acquisition by acquiring contiguous land of (say) 500 acres for (say) extended railway or PSU projects, without invoking special rights and at par with industry.
Further, the government should set up a Task Force to review labour laws in the context of integrating growth and manufacturing agendas with job creation. Grandfathering existing laws for existing workforce may be considered wherein amended contemporary laws are applicable for new entrants to the workforce.
FICCI has also recommended that energy sector reforms need to be expedited to ensure reliable power supply to enterprises; and that measures are required to enable lowering of cost of capital for industry, especially small and medium enterprises.
With regard to trade related measures, the industry has pointed out that there is an urgent need to review existing FTAs and its impact on manufacturing. India's domestic industry must be made competitive simultaneously by implementing reform agenda.
The delegation also made other suggestions related to fast tracking project investments, and accelerating development of industrial corridors and clusters to stimulate economic activity in the country. (KNN/ES)
Loading...
