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Chandigarh 10th September:- The World Bank in association with a professional agency roped in by Govt of India to analyse the regulatory procedures, key policies, reforms, efficacy of the single window systems and approval processes of all Indian states is all set to declare its first ever report ranking the Indian states onEase of Doing business, this week. This was shared Mrs Nirmala Sitharaman, Minister of State, Commerce & Industry, Government of India while addressing a huge gathering of potential investors, diplomats and delegates from India and abroad at the 4th Invest North organized by the Confederation of Indian Industry (CII) to showcase the untapped investment potential of Northern States, here today.
Mrs Nirmala Sitharaman said that we hope that these rankings would encourage the states to act more as 'facilitators and less as regulators'. It has already fostered a healthy competitive spirit amongst the states and they have realized, over a period of time that they cannot afford to remain red tape ridden any more in the current competitive scenario if they wish to seriously attract investments. The northern states are indeed very pro active and can attract huge investments in the present global scenario by further easing their regulatory procedures. She added that india grew at 6.3 % in 2014-15 and is expected to grow at 7.8 – 8 % as per Asian Development Bank (ADB) in 2015-16. With the government having adopted a slew of measures in the last one year, I now urge the industry to push forward, take risks and invest in various sectors ass pr your demographic and geographic preferences. India is a safe bet for investments, considering our huge consumer base.
Hard selling Punjab at CII Invest North, Sukhbir Singh Badal, Deputy Chief Minister, Government of Punjab shared that we are fully committed to do away with cumbersome regulations and procedures and promote self certification by the industry. These regulations were put in place by British raj out of mistrust; hence they have no place today. We fully trust our industry and hence would soon apply self certification methodology for any new industry in Punjab by December 2015 for various necessary approvals, with no inspector visiting for inspection. He added that delivering on our commitment to boost social and industrial infrastructure, we have also planned to spend Rupees 4,000 crore to link all 340 odd towns of Punjab through 4 – 6 lane express ways and make all social amenities and services online for citizens. We hope that this would investment in infrastructure would in turn attract more and more private investment as well.
Manohar Lal, Chief Minister, Government of Haryana while urging the industry to invest in Haryana at CII Invest North said that the objective of the Enterprises Promotion Policy 2015 is to position Haryana as a pre-eminent Investment destination and facilitate balanced regional and sustainable development supported by a dynamic governance system, wide scale adoption of innovation & technology, and skill development for nurturing entrepreneurship and generating employment opportunities. Dwelling on the Prime Minister's vision of 'Make in India' and 'Skill India' campaigns, Haryana Chief Minister Manohar Lal further shared that the new policy will make industries competitive by reducing the cost of doing business, enhancing productivity, balanced regional growth, and supporting the MSME sector. A slew of path-breaking reforms and incentives which include an employment generation subsidy of Rs. 36,000/- per person per year to the industry who employs local youth, VAT subsidy upto 75% to MSMEs, etc. will go a long way in attracting and sustaining industry to the State.
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