CII Calls For India's Stable Policy Framework With Comprehensive Land Reforms
The CII also suggested that states should move to a conclusive titling system that ensures clear ownership
New Delhi: Amid the US tariff threats, industry body Confederation of Indian Industry (CII) on Sunday called for India’s stable policy framework with comprehensive land reforms such as the formation of a goods and services tax or GST-like council to enable coordinated and consensus-based reforms and uniform stamp duty rates of 3-5 per cent across the country for India to become a global manufacturing hub.
“While protectionism and trade wars pose a challenge, India’s stable policy framework, strong industrial capabilities, large domestic market and a young workforce, coupled with its reputation as a trusted and capable partner among many nations, set it up as an attractive investment destination,” the industry body said in a statement.
The CII also suggested that states should move to a conclusive titling system that ensures clear ownership. “The global landscape is undergoing seminal transformations, and trade and investment patterns are being reshaped by factors beyond cost. India has long harboured the goal of becoming a leading global hub for manufacturing,” it said.
The industry body has also proposed establishing integrated land authorities in each state, and also advocated full digitisation of the conversion process, besides suggesting rationalisation of stamp duty rates to a uniform range of 3 to 5 per cent across states.
“To successfully capitalise on these emerging opportunities and march towards the goal of Viksit Bharat by 2047, India must adopt a comprehensive and forward-looking competitiveness agenda, including factor market reforms such as land reforms,” the CII said.
A robust land reform strategy, it said, will not only boost India’s manufacturing but also improve investor confidence, unlock rural development potential, and drive inclusive growth. In this context, it has made nine specific suggestions.
“Land governance in India is one of them which lies largely within state jurisdiction, and the cross-cutting nature of land policy demands close cooperation between the Centre and states. So the formation of a GST-like Council can enable coordinated and consensus-based land reforms,” it stated.