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India On Path Of Becoming A Global Manufacturing Power: FICCI

Updated: January 3, 2015 7:30 am

Commenting on the launch of the ‘Make in India’ campaign, Sidharth Birla, President, FICCI said: “We have embarked on the path for India to become a global manufacturing power. Never before have we seen so much focus and attention on the vital manufacturing sector. This mission is a tribute to millions of entrepreneurs who effortlessly work over years to show that India is a reliable source of high-quality state-of-the-art products that serve demand not only at home but all over the world.”

“FICCI and its entire membership commits itself to the goals set by our Hon’ble Prime Minister to turn India into a manufacturing destination through a ruthless focus on quality and efficiency as well as on reducing the impact on the environment of the production processes deployed,” he said. “Already, the message given out by the Hon’ble Prime Minister has been relayed in state and global capitals. FICCI will work assiduously to reinforce this national ambition and bring on board all stakeholders including investors abroad to develop India,” added Mr. Birla. “To realise this vision, the government and its several constituent arms have put into motion several far-reaching changes that have a bearing on improving the manufacturing ecosystem in the country. One of the major steps taken is the setting up of an eight-member specialised team under the aegis of Invest India – where FICCI is a partner of the Government of India and the states – to address investor issues in a time bound manner,” stated Mr. Birla. “As mentioned by the Hon’ble Prime Minister, consistency and stability in government policies are important to build trust between the industry and the government. Integral to developing and maintaining this trust is re-defining the way centre and state governments work by bringing good governance principals to the fore. FICCI has often made this point and we are sure that given the weight put behind this deliverable at the highest leadership level, concrete changes shall be visible on ground soon,” emphasised Mr. Birla.



PHD Chamber of Commerce and Industry sought that second-hand equipment be allowed under export promotion capital goods (EPCG) as it will promote exports of made in India products as is being aggressively campaigned by the present regime under the Prime Minister Mr. Narendra Modi. The President of the Chamber Mr. Sharad Jaipuria also demanded that domestic procurement of equipment under EPCG should be given encouragement by reducing EO up to 50 per cent. Urging the government to consider the aforesaid suggestions of the PHD Chamber in its forthcoming new foreign trade policy (FTP), the Chamber argued that the EPCG scheme needs to be broad base with a pro-active approach so that it succeeds in vigorously promoting the Make in India campaign. “Export promotion could be undertaken by undertaking promotional measures of service exports which should be given equal importance. For example, served from India scheme should be made transferable even to lesser extent and service tax be allowed to be debited in SFIS,” pointed out Mr. Jaipuria. “Similarly, exemption of excise duty be allowed on domestic procurement under EPCG, rather than refund procedure and imported spares be permitted for domestically procured equipment under EPCG scheme with duty drawback under AIR be allowed for deemed exports,” he added.



Speaking on the ‘Make in India’ campaign, Rana Kapoor, President, ASSOCHAM, believes the following areas are critical for the success: (1) Create appropriate channels of transportation by having a well-connected arterial road network, eventually contributing to setting up of new businesses across the country, helping in decongestion of existing manufacturing hubs. (2) Establish a single window system for digitisation of more than 100 central and state level permits. ASSOCHAM is confident this approach will bring intelligence to the clearance process and enable ease of doing business in India. (3) Relax the conditions related to the distance of projects from state boundaries and areas with critical levels of pollution. Kapoor further said that ASSOCHAM is confident that the PM’s ‘Make in India’ initiative focusing on strengthening and reviving a range of sectors such as automotive and manufacturing, renewable energy, metals and mining, textiles, biotech and pharma, defence, railways, tourism, hospitality, amongst others, is a step in the right direction towards driving job creation and investment.

(Compiled By Rohan Pal )

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