Doing business in India was never as easy as it is now. With government coming in action, India has improved drastically in the World Bank’s ‘Ease of Doing Business’ 2016 international ranking by moving up to 130 out of 189 countries in. The Report states that India has made the most improvement and with major reforms setting in from this year, the ranking is expected to further improve, leading to significant benefits for doing business in India.
Although this sounds good, still there is lot more to be done for India to continue rising up and investment is one of the sectors which needs to be focused on if we want ease of doing business to continue.
In a projection of investment requirement in the Indian economy over the next five years for achieving an average growth of 7 per cent per annum, it has estimated the figure at $ 4.7 trillion, which is nearly double the value of $ 2.9 trillion that was invested in the last 5 years.
Realizing the growing requirement for investment ASSOCHAM, India’s Apex Chamber for Commerce & Industry organized 2nd Global Investors’ India Forum 2016 (GIIF) (an Annual Meet for Investors and Investees) on 22nd and 23rd September 2016 at Hotel Taj Palace, New Delhi. The two-day conference was addressed by the Chief Ministers of Chhattisgarh and Uttarakhand, Dr. Raman Singh and Harish Rawat respectively, Minister of State for Finance, Arjun Ram Meghwal, Smriti Zubin Irani, Minister of Textiles Department to name few.
The conference highlighted the opportunities Chhattisgarh-Uttarakhand are giving to the investors and business owner to integrate their business operations.
Uttarakhand: Providing conducive environment for industrial growth
Uttarakhand is one of the most transparent states in ease of doing business. It has a lot of potential in infrastructure development and hospitality industry and there is an ample scope for expansion.
“The power generation is one of the major thrust areas. We are focussing on the development of small hydro power plants. Uttarakhand is the policy driven state. We are also providing the cheapest power in the country. He further said that Uttarakhand is one of the most transparent states to do business,” said Rawat while inaugurating the conference.
The state has very attractive MSME policy linked with the Startup policy. The Government has implemented a Startup policy to provide a platform to the students emerging from the educational Institutes of the state to help them grow as entrepreneurs.
“We have land availability and the climate for investment is very good in Uttarakhand. We are working on infrastructure development and there is an ample scope for expansion. We are also attracting a lot of people from small investors in the micro and small power projects and we are ahead to formulate our IT policy also, said Rawat.
Chattisgarh: Emerging as one of the best investment destinations
“Abundance of land, water, power, access to the market, business-friendly policies and amicable environment for business make Chattisgarh one of the best states for investors. We are established investment destination for heavy industries like defence, railways, infrastructure, food processing, capital goods manufacturing etc,” said Dr Raman Singh, Chief Minister, Government of Chattisgarh.
Chattisgarh has emerged as one of the best investment destinations in India due to optimum utilization of its capacities, strategic management of its natural resources and visionary governance.
Chhattisgarh and Uttarakhand are setting examples for the other Indian states. They are welcoming businesses to leverage the strategic location from where they can implement growth strategies and manage and integrate their business operations for the region and beyond.