By NewsGram Staff Writer
Talking about Prime Minister Narendra Modi’s pet scheme ‘Make in India’, the Minister of State in the Ministry of Commerce & Industry, Nirmala Sitharaman today informed that a number of initiatives have been taken by the government to improve ease of doing business in India.
” A number of steps have been taken by the government to improve ease of doing business. Rules and procedures have been simplified and a number of products has been taken off licensing requirements,” said Sitharaman.
‘Make in India’ initiative aims to provide a congenial environment to the business community so that they can devote their effort, resources and energy in productive work
Here are few important steps taken by the government to give a boost to manufacturing sector in India:
Creating conducive environment: The government intends to provide a robust infrastructure to business through development of various facilities and institutions. “We are aiming at develop industrial corridors and smart cities to provide a conducive working environment with state-of-the-art technology,” the minister said, and added, ” Efforts are also being made to provide skilled manpower through a national skill development programme. ”
Roping in Foreign Direct Investments: “The Policy in defence sector has been liberalized and FDI cap has been raised from 26% to 49%. 100% FDI has been allowed in defence sector for modern & state of the art technology on case to case basis. 100% FDI under automatic route has been permitted in construction, operation and maintenance in Rail Infrastructure projects,” the Commerce Minister informed.
Target specific approach: Twenty five industry related ministries are working on sector specific targets, which have been identified by them after detailed discussion with various stakeholders in the National Workshop held on 29th December 2014. Each ministry has identified action plan for the next one year and three years.
Investor Facilitation Cell : An Investor Facilitation Cell has been created by the government with a dedicated team to guide and assist first-time investors. “Make in India program represents an attitudinal shift in how India relates to investors; not as a permit-issuing authority, but as a true business partner, ” Sitharaman said.
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