Ficci suggests 12-point action plan to boost manufacturing and investment
Hotline: 1800 102 2007
X
Search Business Opportunities
2013-09-19

Ficci suggests 12-point action plan to boost manufacturing and investment

Industry body Ficci has suggested a 12-point action plan to stimulate growth in the country and create jobs in the manufacturing sector by outlining measures aimed at building an enabling policy framework to attract investments.

Industry body Ficci has suggested a 12-point action plan to stimulate growth in the country and create jobs in the manufacturing sector by outlining measures aimed at building an enabling policy framework to attract investments.
 

Some of the measures suggested include issuance of rupee bonds to non-resident Indians (NRIs), reducing the threshold for minimum investments, avoiding retrospective amendments in tax laws, adoption of a consultative approach in designing tax policies, establishing coal linkages and strengthening of power distribution network.
 

"The threshold for minimum investments needs to be reduced from Rs 100 crore to Rs. 10 crore to encourage investments by smaller investors. Further, the period for which the (investment) allowance is available should be increased from two years to five years," according to Ficci's Manufacturing Mandate.
 

It suggests setting up of a single quasi-judicial regulatory authority for dispute resolution to enable faster rollout of infrastructure projects. Ficci also called upon the government to review existing Free Trade Agreements and empower MSMEs to enhance their contribution to exports.
 

"The current government procurement policy of MSME Ministry provides for mandatory sourcing of minimum 20 per cent by government departments from both manufacturing and services MSMEs. This should be changed to mandatory sourcing of at leats 20 per cent for MSME in manufacturing in addition to sourcing from service sector MSME," the industry body said.

 

Besides, the recommendations call for expediting investigations into instances of dumping, according 'priority sector' status to manufacturing for securing adequate power supply, developing integrated solar manufacturing hubs and ask the government to have a relook at the Land Bill.
 

"The Land Bill in its current form needs a relook if the Government is serious about not just supporting manufacturing as it rules out acquisition of land by manufacturing industry," Ficci said.
 

The suggested measures also include creation of an enabling policy framework to attract skilled, semi-skilled or unskilled workers, affordable housing for industrial workers, accelerating development of Amritsar-Delhi-Kolkata Industrial corridor and expediting implementation of national investment and manufacturing zones (NIMZs).
 

The Manufacturing Mandate recommends adoption of a 'Look Within' approach by the Ministry of Defence towards defence procurement to enhance indigenisation in defence production and give a boost to domestic manufacturing.
 

India's manufacturing sector, with a size of $250 billion, has a share of 15.3 per cent in the GDP. It employs around 48.5 million people and for 11 per cent of the total employment in the country. The National Manufacturing Policy targets creation of 100 million additional jobs in the manufacturing sector by 2025.

 

Related opportunities
  • Quick Service Restaurants
    About: Founded in 2014, Doner Grill is a fast-growing chain of..
    Locations looking for expansion Delhi
    Establishment year 2014
    Franchising Launch Date 2017
    Investment size Rs. 20lac - 30lac
    Space required 200
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater New delhi Delhi
  • Bakery & Confectionary
    Bangalore’s first exclusive waffle store. Waffle Stories was opened in..
    Locations looking for expansion Karnataka
    Establishment year 2014
    Franchising Launch Date 2017
    Investment size Rs. 10lac - 20lac
    Space required 100
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Bangalore Karnataka
  • About Us: •Sizzle House is the quintessential eatery, located on one..
    Locations looking for expansion Maharashtra
    Establishment year 2015
    Franchising Launch Date 2018
    Investment size Rs. 50lac - 1 Cr.
    Space required 1000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
  • Men's footwear
    About: Wayne Wright Shoes are a perfect combination of comfort and..
    Locations looking for expansion Delhi
    Establishment year 2011
    Franchising Launch Date 2017
    Investment size Rs. 30lac - 50lac
    Space required 500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities

Free Advice - Ask Our Experts