For clearances and approvals of industry, a single window system would be soon going to be set up by the Government of India. Minister Shri PiyushGoyal has said that all the concerned State Governments and Central Ministries are being taken on board to create a genuine single window system.
While six states have already given their consent about the Government’s work on creating a land bank, said the minister. He also said that without frequently visiting the offices of land owning agencies, the potential investors would then be able to locate and identify the land banks from their distant offices and finalize the location of the industries.
The Minister has said that, to increase FDI inflows and grow the investable projects in India, Project Development Cells are being set up, and a nodal officer has also been appointed in every Central Department.
He has also said that the Government had initially identified 12 industrial sectors to focus upon initially, but now, it has been expanded to 20.
Hence, this will further help in leveraging the competitive edge of the country and also aid in scaling up investments. Some of the sectors that will be included are furniture, air-conditioners, leather, footwear, agro-chemicals, Ready to eat food, Steel,Aluminium, Copper, Textiles, Electric Vehicles, Auto-components, TV Set-Top Boxes, CCTVs, Sports goods, ethanol manufacture and bio-fuels, and Toys.
Moreover, he has also cleared that Aatmanirbhar Bharat will be opening the doors for new investments and opportunities that would be completely focused on quality in regards to Indian products, thereby increasing economies of scale for the production in India.
This will help the country to secure a strong portion in the world’s economy and become more competitive with the best of technologies and equipment. Next-gen technologies such as Data analytics, Artificial Intelligence, robotics would be integrated across many businesses hence opening opportunities for new jobs for the people of India.
If we talk about the health and education sectors, a conducive environment will also be created for a better inflow of foreign investments in the country.
Furthermore, so as to increase transparency and equitability, investors would be given optimum support in terms of processes, policies, and regulations. While when it concerns labour reform issues, the Minister has said that a balance has to be maintained between the interests of the investors and the labours.