Investors are closely watching state level rankings & performance on ease of doing business: US Envoy

Jaipur, Nov 18 (KNN) India must seize the opportunity to transform the lives to one sixth of world’s population, said US envoy to India Richard Rahul Verma adding that India can set example for other economies including United States in this regard.

He was speaking at the symposium organized by CUTS here on "Making North Indian States Competitive: Path to Inclusive and Sustainable Growth. CUTS had organised the symposium with support from Confederation of Indian Industry and US Embassy.

Verma, who was the guest of honour at the event highlighted that competitive federalism is a key feature of US economy as well. Investors are closely watching state level rankings and performance on ease of doing business. They are increasingly reaching out directly to states.

Rajpal Singh Shekhawat, Urban Development Minister, Rajasthan mentioned that Government of Rajasthan has taken several initiatives to improve transparency and governance and is willing to work with stakeholders to improve state capacity to promote competition and check anti-competitive practices.

Shekhawat emphasised on the importance of creating human competitiveness which include citizens participating and benefiting from competition. He also acknowledged the need to improve capacity at lower levels of governance to improve engagement with stakeholders.

Pradeep S Mehta, Secretary General, CUTS International, said that while several reforms have been adopted by north Indian states, unfinished agenda remains to pursue which states much encourage multi-stakeholder participation.

He also noted that while central government has adopted pro-competitive legislations, capacity within states to promote competition and check abuse remains limited. Pointing out the need to build the capacity of entry and mid-level government officials, Mehta noted these officials are key to implement reforms adopted by states.

Arun Maira, President CUTS, emphasised on using tools like Regulatory Impact Assessment of focusing on micro, small and medium enterprises (MSMEs) to create jobs and ensure sustainable and inclusive growth.

Rajat Agrawal, Chair, CII Rajasthan State Council suggested that state could constitute a task force comprising industry and government to weed out the bottlenecks to competitiveness.

Albert Allen Foer, Founder, American Antitrust Institute, highlighted the American experience on competitiveness and Anthony D’Sa, Former Chief Secretary, Madhya Pradesh, shared the good practices adopted by Madhya Pradesh to promote competitiveness. (KNN Bureau)