WHAT I LEARNT FROM MY COMPETITOR (6)
“ Must Open up its Economy on
a Continuous Basis“
Amitabh Kant, Secretary, Department of Industrial Policy and Promotion
CLAIM TO FAME: A former
joint secretary at tour ism ministry, he was a key driver in Incredible India
and God's Own Country campaigns. Kant is also chairman of the Delhi Mumbai
Industrial Corridor Development Corporation
THE LESSON: I (as DIPP
secretary) have faced many a challenge in making India an easier place to do business
in. Let's accept it: India is a highly complex place to do business. Who is our
competitor? It's China; it's Vietnam.
Today, we are in a truly
globalised and integrated econo my. So, our competition is more global. We have
to be highly competitive, and at the same time market our selves very
aggressively. Our e-biz platform is already operational. For any new company
there is one form and one point to make payment. Many obsolete rules have been
scrapped. The World Bank has already recognised our efforts, as India has
improved 12 ranks in the Bank's recent ease of doing business report. The
liberalisation of the FDI regime that this government has undertaken in sectors
such as railways, defence and construction did not come without any challenge.
In the last 15 months or so, FDI in In dia has increased by 35% where as
globally FDI shrunk by 16% during the same period. Are there any learning
lessons from our competitors? Yes, there are many. India must open its economy
on a con tinuous basis so as to attract global investments.
(As told to Shantanu Nandan
Sharma)
ETM27DEC15
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