National industrial corridor development authority in the offing
Updated: Nov 18, 2014 12:10:25pm
New Delhi, Nov 18 (KNN) To facilitate the setting up of all industrial corridors in India, a national industrial corridor development authority will be created. When operational, the authority will carry out project development activities, appraise and sanction projects, implement and coordinate all central efforts for industrial corridor development.
This was stated by Additional Secretary, Department of Industrial Policy and Promotion (DIPP), Ministry of Commerce and Industry, Government of India, Shatrughna Singh, at the 39th joint meeting of the India-Japan Business Cooperation Committee, held here yesterday.
Speaking on ‘Modi administration’s economic policy - Make in India initiative and opportunities for Japanese companies,’ Singh informed Japanese investors, businessmen and industrialists about these new plans at a meeting organised by FICCI in partnership with the Japan Chamber of Commerce and Industry (JCCI), according to an official release.
Singh said that a strong Japanese economy stabilizes both the regional and global economies. India, though has its own set of challenges, today offers a plethora of opportunities for Japanese companies as the Indian Government is unleashing a series of reforms to improve business environment; fast tracking manufacturing and liberalization of FDI policy.
He said that providing an enabling and conducive environment for doing business in India was an important factor contributing to industrial growth. The emphasis of the Government has been on simplification of the procedures, rationalization of the existing rules and increased use of information technology to make governance more efficient, effective, simple and user-friendly.
Development of a robust manufacturing sector was the priority of the Government, Singh added. It has the potential to not only take the economic growth to a higher trajectory, but also to provide employment. In this regard, the Government is committed to remove all bottlenecks and develop India as a manufacturing hub, having initiated a number of measures in this direction.
On the occasion, Onkar Kanwar and Masami Iijima were re-elected as the Chairmen for IJBCC representing Indian and Japanese sides, respectively.
In his address Ambassador of Japan to India, Takeshi Yagi stated that the bilateral trade relations between India and Japan have been elevated to strategic and global partnership. The two nations today under their respective visionary leaders are aiming at doubling Japan’s FDI to India.
He added that though India had given a new thrust to economic reforms such as deregulation of diesel prices, labour law reforms and relaxation in FDI, more bold and systematic reforms were needed for ease of doing business in the country.
On the other hand, Chairman, Japan-India Business Cooperation Committee and Chief Executive Officer and President of Mitsui and Company Ltd, Masami Iijima said that like India, Japan was also on the path of economic recovery. With more avenues for investments and cooperation opened between the two nations, the Indian Prime Minister, he said, was working towards building a conducive business environment to promote foreign direct investments and cross sectoral projects.
President FICCI and Chairman Xpro India Limited, Sidharth Birla mentioned that the Government has identified manufacturing, connectivity and infrastructure as the pillars of its nation-building task, adding that India has ambitious plans for bullet trains, smart cities, sanitation and cleanliness, waste management, renewable energy and manufacturing across segments.
In his remarks, Co-Chairman, India-Japan Business Cooperation Committee and Managing Director, Bharat Seats Limited Rohit Relan said that the joint business meeting would facilitate in forging new linkages between India and Japan besides giving the requisite impetus to joint endeavours. (KNN/ES)
This was stated by Additional Secretary, Department of Industrial Policy and Promotion (DIPP), Ministry of Commerce and Industry, Government of India, Shatrughna Singh, at the 39th joint meeting of the India-Japan Business Cooperation Committee, held here yesterday.
Speaking on ‘Modi administration’s economic policy - Make in India initiative and opportunities for Japanese companies,’ Singh informed Japanese investors, businessmen and industrialists about these new plans at a meeting organised by FICCI in partnership with the Japan Chamber of Commerce and Industry (JCCI), according to an official release.
Singh said that a strong Japanese economy stabilizes both the regional and global economies. India, though has its own set of challenges, today offers a plethora of opportunities for Japanese companies as the Indian Government is unleashing a series of reforms to improve business environment; fast tracking manufacturing and liberalization of FDI policy.
He said that providing an enabling and conducive environment for doing business in India was an important factor contributing to industrial growth. The emphasis of the Government has been on simplification of the procedures, rationalization of the existing rules and increased use of information technology to make governance more efficient, effective, simple and user-friendly.
Development of a robust manufacturing sector was the priority of the Government, Singh added. It has the potential to not only take the economic growth to a higher trajectory, but also to provide employment. In this regard, the Government is committed to remove all bottlenecks and develop India as a manufacturing hub, having initiated a number of measures in this direction.
On the occasion, Onkar Kanwar and Masami Iijima were re-elected as the Chairmen for IJBCC representing Indian and Japanese sides, respectively.
In his address Ambassador of Japan to India, Takeshi Yagi stated that the bilateral trade relations between India and Japan have been elevated to strategic and global partnership. The two nations today under their respective visionary leaders are aiming at doubling Japan’s FDI to India.
He added that though India had given a new thrust to economic reforms such as deregulation of diesel prices, labour law reforms and relaxation in FDI, more bold and systematic reforms were needed for ease of doing business in the country.
On the other hand, Chairman, Japan-India Business Cooperation Committee and Chief Executive Officer and President of Mitsui and Company Ltd, Masami Iijima said that like India, Japan was also on the path of economic recovery. With more avenues for investments and cooperation opened between the two nations, the Indian Prime Minister, he said, was working towards building a conducive business environment to promote foreign direct investments and cross sectoral projects.
President FICCI and Chairman Xpro India Limited, Sidharth Birla mentioned that the Government has identified manufacturing, connectivity and infrastructure as the pillars of its nation-building task, adding that India has ambitious plans for bullet trains, smart cities, sanitation and cleanliness, waste management, renewable energy and manufacturing across segments.
In his remarks, Co-Chairman, India-Japan Business Cooperation Committee and Managing Director, Bharat Seats Limited Rohit Relan said that the joint business meeting would facilitate in forging new linkages between India and Japan besides giving the requisite impetus to joint endeavours. (KNN/ES)
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