KTR, @KTRTRS – Working President of TRS:
Dear @PiyushGoyal Ji, while we combat the Coronavirus with a coordinated strategy, I would like to propose some measures Union Govt may initiate to reboot & energise our economy to attract investments to our country. India has a great opportunity, let’s grab it aggressively.
- Carry out bold & essential reforms at the earliest: Imbibe all best practices in EoDB to propel India into top 20 in the world rankings; let’s update our dated labour laws & bankruptcy laws; and more importantly guarantee & honour consistency in state policies to investors.
- Very important to focus on creating world class industrial infrastructure in a mission mode over the next one year – large self-contained industrial parks; corridors; develop world class ITIs & polytechnics (2-4 for every state) Capacity building in Infra & skills is vital.
- Aggressively Improve our export competitiveness in priority sectors like Pharma, Aerospace, Textiles, Leather, IT & Food Processing. Some measures towards achieving this
a) Active scouting of markets
b) Creating a deal better than what competing nations offer.
c) Soft loans for procuring quality machinery
d) International training of staff
e) Attractive incentives on exports
4) Bailout for SMEs; direct financial assistance for SMEs in worst affected sectors, easy & very soft credit for others, deferment of dues, priority Govt orders.
- Constitute an Empowered Strategy Group to identify and follow up on investment opportunities (with Central Govt, state govts, industry leaders, bankers, economists and policy experts)
- If we have to compete for manufacturing opportunities, we need to scale up; economies of scale will help us with competitive edge Mega industrial parks such as Hyderabad Pharma City & Kakatiya Mega Textile Park need to be promoted as projects of national importance.