New Delhi: Cabinet Secretary Ajit Kumar Seth on Friday discussed with senior officials and industry the ways to further improve the country's investment climate as well as its ranking in the ease of doing business index.
Secretaries from different departments including DIPP, MSME and Commerce were present at the meeting along with the members of industry body Ficci and exporters.
Industry leaders said the investment climate is improving and the government is taking several steps to improve ease of doing business in the country.
Maruti Suzuki India Chairman R C Bhargava said all the senior officials heard the views and comments of the industry.
"We are very optimistic. The government has informed us what they are doing (on the matter) and what all steps they would take," he said.
Various issues come up for discussion including skill development and taxation laws, he added.
Ficci President Sidharth Birla said the government is planning several steps to improve India's ranking in the ease of doing business index.
"The cabinet secretary has told us that things will not happen in 15 days but the government will continue to take steps," Birla told reporters after the meeting.
The Cabinet Secretary heard industry concerns and informed that he would also write to state chief
secretaries on the matter, Council for Leather Exports Chairman R K Jalan said.
India has been ranked 142 among the 189 countries in the latest report of the World Bank, falling two places from last year's ranking.
The meeting assumes significance as government is aiming to improve India's ranking in the ease of doing business index to 50th position in the next two years.
The Commerce and Industry Ministry has already taken several measures and has proposed a series of steps, including drastically reducing the time for registration of business to one day, single registration of all labour laws and cut in number of taxes to improve ease of doing business in India.
The ministry along with other departments is engaged in removing barriers and simplify cumbersome procedures related to approvals and clearance mechanism for business activities.
The Department of Industrial Policy and Promotion (DIPP), has identified sectors and specific reforms that are urgently required to substantially improve India's ranking.
During the last three years, India received an average of USD 30 billion foreign direct investment.
India needs huge investments to give a boost to its manufacturing sector and to create million of jobs.
