Preparing to bring 100 lakh crore investment from China: 16 ministries came on one platform to ease investment in India.
The central government has taken a big step towards making it easier for global companies to invest in India. 16 different ministries have been brought on a single platform. This will ensure that foreign investment is cleared at the earliest. Because, the biggest bottleneck in increasing investment is still the delay in getting approvals from different departments. The delay has increased the estimated cost of one out of four projects, which could be a big problem in the times to come.
Many companies like Apple want to come to India
In the next few years, the central government has started preparing to snatch the Rs 100 lakh crore mega project from China and bring it to India. There are many companies like Apple, who want to completely close their manufacturing units in China and come to India. Keeping these in mind, the Gati Shakti Yojana is being expanded.
Amritlal Meena, Special Secretary, Ministry of Commerce and Industry said that global companies are eager to manufacture in India. We are talking to them continuously. We are giving them all the necessary facilities. Most of the global companies wanting to come to India are currently manufacturing in China. We will give them a better environment, so hopefully soon the process of companies coming to India will start.
The most powerful way to deal with China – bring global companies working there to India
The central government has contacted many global companies manufacturing in China. These companies have two major demands. The first cheap workers and the second English-speaking workers. Both these aspects are in favor of India. The central government believes that to deal with China, it is necessary to attack its real strength. Manufacturing is its strength, which is also possible in India. Anyway, after the Corona period, many foreign companies want to shift manufacturing from China.
A detailed study has been done of which sectors companies can come to India from China. Where they can be installed in India, it has also been almost decided. This is so that all these projects can be directly connected to the rail network.
Challenge… 1300 projects in progress, 40% of them slow
1300 new projects are to be started under Gati Shakti Yojana, but the challenge is that 40% of these projects are stuck or their pace is very slow. Land acquisition has not been done for most of the projects. 422 projects could not be started due to other reasons. However, the bottlenecks in 200 of these projects have been removed. There are 196 projects which are stuck due to lack of direct port connectivity. For this, the Ministry of Road Transport has prepared a separate plan.
Worry… the pace of setting up important projects is continuously decreasing.
According to the latest data of the central government, the pace of important projects being completed every year in the country is continuously falling. In May 2022, a total of 1568 projects were going on. Of these, 721 projects are such, which have crossed the deadline. Due to this the cost of 423 projects has increased. Therefore, there is a possibility that this problem may increase further in the future. This will not only affect investment, but will also not provide relief on the unemployment front, which is one of the biggest problems of the country.
