India Reforms: Fast-track system to solve problems; Less regulatory compliances; GIS-enabled database of industrial clusters

NEW DELHI: Under pressure from Japan and other countries for introducing reforms in ’true spirit’ for attracting foreign investment, India has started rolling out some significant initiatives on this front.

Fast track system to identify and solve problems faced by foreign companies, removing regulatory compliances like zero liquid discharge and GIS-enabled database of industrial areas and clusters are some of the keys initiatives India has taken just recently.

Next to come up by April 2021 is the investment clearance cell to provide facilitation and support to the business on a one-stop digital platform. This cell is aimed to be set up for entrepreneurs to provide pre-investment advisory, information related to land banks, and facilitate clearances.

Guruprasad Mohapatra, Secretary, Department for Promotion of Industry and Internal Trade (DPIIT) said India was working on a Geographic Information System-enabled database of industrial areas and clusters across the country.

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“In terms of infrastructure, India has 12 Japanese industrial townships across nine states, a 13th is being planned in Assam. These are integrated industrial parks with ready to move in infrastructure facilities, with world-class infrastructure, plug-and play-factories, pre-approved licenses, and investment incentives exclusively for Japanese companies,” he said.

He was speaking at the Invest India Exclusive Investment Forum – Make in India: Japan Roadshow 3.0, Digital Edition recently.

Piyush Goyal, Union Minister of Railways and Commerce & Industry, Hiroshi Kajiyama, Minister of Economy, Trade and Industry (METI), Shigehiro Tanaka, Vice Minister, METI, Japan Nobuhiko Sasaki, Chairman, JETRO, Kenji Sugino, Secretary-General, Japan Chamber of Commerce and Industry in India (JCCII), Deepak Bagla, MD, Invest India were also there.

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Mohapatra said a fast track system is being worked out with the objective to identify and solve problems faced by Japanese companies and investors with their operations in India in an effective and time-bound manner.

“India is removing regulatory compliances like zero liquid discharge to encourage investments in sectors like semiconductors. In this regard, we are holding a high-level meeting on August 13 to review and discuss the way forward on India’s zero level discharge policy,” he added.

Piyush Goyal, Union Minister of Railways and Commerce & Industry assured Japan that India was serious enough about bringing in reforms and also affect the ease of doing business to attract Japanese investors and companies.

The minister said, “As the world has recovered from the grip of the COVID-19, the Government of India has been preparing strategies and Action Plan not only for business continuity and is set to a revival but also setting out the red carpet for global investors to continue to choose India as the preferred destination for investments.”

He said that one of the biggest things that this Government has done to convert this current situation into the huge opportunity is bringing a number of reforms that have happened recently as reflected in our progress, by more than 65 places in the last five years in the Ease of Doing Business of the World Bank.  A large number of policies have been introduced by the Government of India and the State Governments to make this happen.