Sumit Mazumder, President, Confederation of Indian Industry, writes this article in The Hindu
While there are signs that economic growth is reviving, the concern is that investments are not as forthcoming as expected. …
Regarding manufacturing, certain focus industries in labour-intensive and advanced sectors should be championed, including automotives, defense, and textiles. In particular, incentives for Research and Development and Information, Communication Technology and Electronics manufacturing would help reduce imports. A ‘Make in India Technology Venture’ can be set up as a special purpose vehicle under public-private partnership to invest Rs 1 lakh crore in building a knowledge economy. The Digital India vision requires simplification of procurement process and a joint government-industry task force to address challenges. Start-ups should be supported through a suitable scheme.The government has taken many positive steps for a progressive tax policy. Dispute resolution mechanisms, arbitration and conciliation can further help in efficient and time-bound clearance of funds in dispute. Link
[The goal of Digital India is to transform India into a digitally empowered knowledge economy. In this article, it is interesting to see CII President Mazumder describing “Make in India” as also building a knowledge economy.]