State takes lead in wooing investors
State government has formulated a working group to adopt best practices to ensure ease of business in the state. "We are working on constituting a group soon that outlines best practices to be adopted by government and have taken inputs from the
Chennai: Just as Prime Minister Narendra Modi was highlighting the importance of state machinery for the success of his ‘Make in India’ campaign, Tamil Nadu industries department officials revealed that the state is already readying a plan to review its approval process systems for ease of business in the state.
State government has formulated a working group to adopt best practices to ensure ease of business in the state. “We are working on constituting a group soon that outlines best practices to be adopted by government and have taken inputs from the Madras Chamber of Commerce and department of industrial promotion,” said Mr E. Velmurugan, executive vice-chairman, guidance bureau, speaking at a CII event.
In line with the demand from industries for a comprehensive handbook on licences and approvals, the industries department is also bringing out a guidebook to help investors. “A draft version of the book is ready and we have given it to for consultants to review for more clarity,” he added.
Mr Velmurugan also said that the global investors’ meet scheduled in October 2014 has been postponed to March 2015 but will have elaborate participation. State government has allocated a sum of '100 crore towards the meet in its latest budget.
Responding to Mr Modi’s Make in India campaign, city industrialists who were assembled at the CII event, conveyed their concerns about lack of transparency and approval delays in the state. “As much as we are asked to abide by rules, governments too should have service level agreements with companies so as to be pulled up for any inordinate approval delays,” said Mr N.K. Ranganath, managing director of Grundfos Pumps India.
Calling for greater interaction between industry and the government agencies, Ms K. Saraswathi, secretary general of the Madras Chamber of Commerce, said, “Respect (industrialists) first and then suspect.”
( Source : dc correspondent )
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