Economic Scenario in India might change
Prime Minister Narendra Modi will meet nearly a thousand honchos of local and foreign companies on September 25 to unveil the ‘Make in India’ strategy he had proposed in his Independence Day address from the ramparts of Red Fort.
The meet has been planned to revive the investment climate, push manufacturing and generate growth momentum for the economy. The prime minister’s office has been working on three major initiatives to make this happen with the sub-text of encouraging foreign companies to set up manufacturing bases in India — a comprehensive manufacturing policy, simpler land acquisition norms and a progressive tax regime.
It also plans single-window clearances for manufacturing units, focusing on large infrastructure projects. This is being done solely to revive the economy in the Indian market. The Prime Minister is encouraging foreign companies to come to Indian in order to set up their bases here. This would help in cashing a large amount of revenue. If things work as planned it is not far that the economic scene in India might completely change.
Source: Financial Chronicle
