CII (Confederation of Indian Industry) on Sunday introduced a blueprint to improve different sectors to make India competitive at global level. It emphasizes simplified GST structure, privatization of non-in-curinistic public undertakings, device compatible fee structure, early resolution of disputes, national employment and gig economy policies. CII has made more than 250 recommendations in 14 important improvement areas in its report “policies for competitive India”.
The blueprint is in accordance with the government’s view of the developed India
It said that this blueprint, developed through comprehensive consultation with the heads of the industry, economists and policy experts, is in line with the government’s view of the developed India. CII President Rajiv Memani said, “These recommendations are closely associated with the government’s reforms and support the Prime Minister’s call for adventure and adaptable change.” As a lively document, policies will continue to develop for a competitive India and bring new views in support of policy makers. ”
What is included in the areas of improvement
The areas of reform include fiscal understanding, inflation management and modern statistical systems, privatization of non-recipient public undertakings, construction of a sovereign money fund, non-revision of small violations, timely approval, single-booking approval, single-booking approval and second generation IBC reforms, well-organized labor code, minimum salary framework and fasting dispute solutions.
CII also recommended energy policy reforms
The CII has also recommended energy policy reforms, including competitive fees, cross-subsidy i.e. one at the cost of one, ending subsidy to another, strong transmission networks, personal participation in nuclear power and green hydrogen blueprint. In addition, the report also suggested a quick resolution of disputes through extended commercial courts, arbitration councils and strong tribunals.
Improvement agenda will be boosted to remain competitive globally
Sanjeev Bajaj, former President of CII and chairman of the workforce on counter-duty duty, said, “As India is moving rapidly towards becoming the world’s third largest economy, it will now have to gain further acceleration in this improvement agenda to remain competitive globally. The new opportunities of free trade agreements and the expansion of India’s economic activities, the Indian industry should be prepared to compete with the expansion of the world.
With PTI inputs
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