To wean business away from China, eased FDI norms likely
NEW DELHI: With an eye to attract more investment and boost domestic economic activity, the Centre is eyeing further easing of foreign direct investment rules, in addition to pushing reforms in mining, banking and capital market sectors, commerce and industry minister Piyush Goyal said.
The minister’s statement at India Global Week comes at a time when the go nment is working to wean away from China investors who are looking to diversify their production bases, with several firms keen to avoid concentration in China after the coronavirus pandemic. The focus has intensified after the tension with China on the Ladakh border as the go nment is keen to bolster domestic manufacturing.
该部长在India Global Week上发表上述声明之际，印度政府正努力摆脱对中国投资者的依赖，而中国投资者正寻求使其生产基地多样化，有几家公司在疫情爆发后急于避免集中在中国生产。与中国在拉达克的局势紧张之后，印度政府迫切希望提振国内制造业，这种关注有所加强
Sources said the FDI reforms could be announced over the next few weeks. At the event, Goyal said the Centre is also looking at simplifying domestic approvals and bureaucratic processes to make it easier for industry to do business.
“We have significant items on the table. We are looking at further reforms in the mining sector... at opening up FDI in certain sectors where there are some constraints. We’ll soon be coming out with a new industrial policy, a forest policy and several other initiatives to promote economic activities... We are looking at banking sector and capital market reform,” he said.
He further said a number of indicators are showing that economic activity has ramped up over the last 30-40 days. Power consumption is back to 90%, GST tax collection has improved, he added. “So I believe we will be able to recoup very quickly.”
To attract foreign capital, Babus in Govt have to change their mindset. All good announcement are futile if they do not permeat to the ground level.
People need to work really hard in earnest if you need to be comparable even to Vietnam .
with all external aided FDIs India wont even match vietnam. shame govt has zero confidence on itself
Once in lifetime opportunity Now or Never for Modi Govt to revive the economy.
Nothing is possible in this country even after 50-100 years.....Everywhere we have to face wondering cows since the morning to evening making all the streets, Roads dirty...
govt should target 10 to 12 percent GDP growth for 20 years if we want to come close to China economically...
Current target is ram mandir before 2024 election..
Chandan Kumar Das
Speak less do more.Addressing media will not help but actual results.Look Vietnam they never open mouth but did the job which is essential for attracting Industries to step out of China.
True. They are talking too much.
All these idiots of FEKU go nment have completely destroyed the Indian economy through their worst mismanagement of the Indian economy... Better first they control the Corona outbreak in India instead of Boasting, Barking and shouting new rhetoric everyday... Not a single company leaving the China has arrived in India for the investment..Indian now have realized all your dramas..
Goyal sab, strike the iron while it is hot. If not now then never.
BJP and feku are hell bent on fooling the nation. God save India.
Unless caste system is destroyed,de acy doesn't make any sense in India because 95%of Hindus vote based on caste lines.India will remain a third world country forever
only one request to Mr.Modi, kindly remove Nirmala Sitaram and handover finance to a professional as lot of competent Indian brains are available to have one
Sudhansu Sekhar Das
I could not find reasons why Congies made agreement to import cottage industry products such as fire crakers for Diwali, colors for Holi, toys for childrens and made Indian Industry specially cottage and MSME sector to die?. Is it for mere commission Only? I can smell a bigger conspiracy.
Feku, aka Surrender Modi, is still living in a fool's paradise. No investors will come and invest in India after Feku ignites border disputes with all our neighbours. A peaceful environment is essential for any kind of development. Unfortunately, even an once friendly country like Nepal begins to team up with China to fight against Feku's Hindutva/RSS ideology. Even if we kick Feku out of India today, it will still take at least a decade for the next PM to restore relations with all our neighbours.
Eased FDI norms are baby steps in the positive direction.
In Australia, it only takes 15 mins to start a business, can Indian Government do that ?.
In India it takes minimum 15 years...
TRUTH BE TOLD
All prices are going up while Salary is going down.. it's time to reduce income tax rates!!!!!
Sudhansu Sekhar Das
Congress made India to depend on China. NDA made China to depend on India.
Great move in order to attract FDI from various countries.
Dr Vidyadhar Yellutla
It is all possible because of Modis effort, when he took over India was placed @144 th position in ease of doing business, he brought 47 reforms and now India is @63 position. Even Chinese were bringing labor law modificaitons to attract FDI into their country
Doing nothing & only talking, First do than talk, Don't just make these statement for sake of vote bank.