For conducive biz climate, investors rely on ranking

Chennai

The ease of doing business should have a continued support from all agencies of the government, all for fulfilling the needs of the industry at a 360-degree level, said M S Shanmugam, Additional Secretary, Industries Department, Tamil Nadu.

In his special address at the Regional Conference on Ease of Doing Business in South India organised by the CII here recently, he said investors always relied upon the ranking system the state had got when compared to other states apart from the conducive industrial climate it had enjoyed for ease of doing business.

He also said for achieving global standards, all the departments of the government should work concertedly with a view to creating an excellent ecosystem for the growth of industry.

Shailendra Singh, Additional Secretary, Department of Industrial Policy and Promotion (DIPP), in his inaugural address, said the Centre had initiated an action plan with around 280 points a few years ago with an effort to help entrepreneurs not only for setting up industries in the country but also for running them efficiently, making use of the sops made available in an open economy.

``There is a need for all types of support from the government,’’ he said and added, ``The World Bank has made a study on industries situated in Delhi and Mumbai alone though India as a whole needs to see the reforms happening all across the states.’’

He said ninety per cent of the states, including the Union Territories, have been covered by Niti Aayog in terms of rankings and delivery of the reforms system based on the parameters of digital and online clearance for projects of all kinds.

S Mahalingam, Past Chairman, CII -South & Chairman, CII SR Sub Committee on Economic Affairs & GST, said India is poised to be in the league of top 50 countries soon which could happen based on the competitive federalism among the states with the use of single window system for clearance of projects, trading across borders and high labour compliance.

He also said the removal of complex procedures for obtaining construction permits would go a long way in aiding ease of doing business.

He further aid adoption of international standards would also improve the ratings of states, besides acting as indicators for development in one way or the other.

SN Eisenhower, Co-Chairman, CII-SR Subcommittee on EoDB, said ease of doing business has become a buzz word though this could be possible only with a good economic and industrial climate, attracting investors both within and outside.

``A good economic climate for foreign investment along with well-tuned arbitration rules can see more growth, more jobs,’’ he said and added, ``The reforms regime of the Centre and the regulatory issues of the state could work wonders for a conducive industrial climate in the country.’’

M Ponnuswami, VC, CII-Tamil Nadu, in his concluding remarks, said CII would always help the industry to make its way forward in terms of achieving an all-round development.