Modi's 'Make In India' Vision Reflected In These Reforms

INDUSTRIAL REFORMS:

Red Tapism not That Red Anymore:

Modi’s government is on full swing to throttle the infrastructure highway with the aim of boosting India’s future.Lots of infrastructure related projects have been postponed for various procedural complications. This is one of the reasons why India lagged behind for past ten to fifteen years in this sector. Whereas, the other Asian counterparts like Bangladesh, Taiwan, Singapore, are far ahead of us, boosting its trade and business.

The government is all set to amend the Environment Impact Assessment Notification-2006 for States, in order to provide clearances for some kinds of constructions. This means, projects like Bus Depots and Akshardham Mandir will not require Environment Clearance (EC). This step will speed up constructions of many public utility buildings in the states.

Uninterrupted Business for 3 Years now:

India lauds Modi’s reformative move to extend the validity of industrial license for three years in contrast to the earlier two years system. In addition, a provision for further extension of two years is in place.

However, in case of absence of any commercial production five years from the time when license was issued, the license will lapse automatically.

India Inc and Confederation of India Industry view a government committed towards industrial growth.

"We hope that this would help in expeditious clearance of fresh industrial license applications and the extension of the existing industrial licenses," CII director general Chandrajit Banerjee said.

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