CII Calls for GST-Like Council to Drive Land Reforms in India

On Sunday, the industry association CII advocated for comprehensive land reforms including the establishment of a GST Institute-type Council to facilitate coordinated and consensus-based reforms and for a uniform stamp duty of 3 to 5 per cent across the country for India to be regarded as a global manufacturing hub.

Despite the challenges of protectionism and trade wars, India's stable policy framework, industrial capabilities, large domestic market, and a youthful population combined with many countries' serious view of it as a trusted and capable investment partner make it an attractive destination for investment. Further suggestions on land reforms, CII pointed out, a robust land reform agenda will not only galvanise India's manufacturing environment but also sustain investor confidence, release (or unlock) rural development opportunities, and support inclusive growth.

"One, land governance in India lies largely within state jurisdiction, and the cross-cutting nature of land policy demands close cooperation between the Centre and states. CII recommends formation of a GST-like Council to enable coordinated and consensus-based land reforms," it stated.

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According to CII, while commendable initiatives like the India Industrial Land Bank (IILB) are acknowledged, several challenges are persisted by many.  "Currently, IILB is largely an information tool. It needs to evolve into a true national land bank that integrates not only land information but also allots land across states through a single digital interface. This would improve transparency and simplify land in acquiring process for businesses," it said.