“We are committed to enhance EoDB all across India for domestic and foreign companies.” - Shri Anurag Jain, Secretary, DPIIT, Ministry of Commerce & Industry, Govt of India
Speaking at the Opening and Plenary Session of the National Conference on MNCs 2022, organised by CII on 14 October 2022 in New Delhi, Shri Anurag Jain, Secretary, DPIIT, Ministry of Commerce & Industry, Govt of India, stated that the PM Gati Shakti, National Master Plan for Multi-modal Connectivity has been launched which is a digital platform to bring 16 Ministries, including Railways and Roadways together for integrated planning and coordinated implementation of infrastructure connectivity projects. The multi-modal connectivity will provide integrated and seamless connectivity for movement of human capital, goods, and services from one mode of transport to another. It will facilitate the last-mile connectivity of infrastructure and also reduce travel time, he said.
India has one of the most robust FDI policies. We are currently moving towards Phase 2 of the National Single Window System which is focused on new investments and for existing businesses, it will be a single window process. We want to create a single business ID which will be the PAN to make it a seamless experience by December 2023. We are committed to enhance EoDB all across India for the industry and MNCs, the Secretary added.
The Secretary also launched the CII – EY Report on “Vision ‘Developed India’ – Opportunities and Challenges for MNCs” during the session. The report brings out several favourable factors indicating enhanced interest of MNCs in the Indian economy. 71% of MNCs in the report mentioned that India would be a major part of the plans of their global expansion.
Smt Sumita Dawra, Additional Secretary, DPIIT, Ministry of Commerce & Industry, Govt of India, remarked that India’s narrative of 3.5 trillion USD economy with a target to touch 30 trillion+ USD by 2047 offers many opportunities for MNCs. These include the initiatives such as National Infrastructure Pipeline, speeded FTAs, National single window scheme, Industrial townships with improved connectivity and logistics and the PLI scheme which has demonstrated strong success with production valued at 400 billion USD. She further added, “We also expect MNCs to promote the ODOP scheme by going vocal for local and local for global.”
Shri Sanjeev Sanyal, Member, Economic Advisory Council to the Prime Minister stated that the government has introduced a plethora of reform measures aimed at achieving macroeconomic stability and easing the business climate such as implementation of GST and cleaning up of the banking system. The focus is on supply side reforms and greater degree of privatisation for efficient delivery of services.
Elucidating on sectoral reforms, Mr Sanyal stated that measures have been undertaken for the geospatial, drone and telecom sector. Going forward, reform measures shall be undertaken in the domain of judicial system and intellectual property rights while ensuring capacity building of government officials. A strong industry-government partnership is also encouraged for further improvement in business climate for MNCs, he added.
Mr Soumitra Bhattacharya, Chairman, CII National Committee on MNCs and Managing Director, Bosch India, mentioned that the government of India in the last few years has been working aggressively to provide a transparent, predictable and investor friendly business environment to investors. “MNCs are benefitting owing to greater focus on increasing India’s integration in global supply chain and signing of trade agreements with several important economies” he said.
14 October 2022
New Delhi