INSUBCONTINENT EXCLUSIVE:
The reform attempts to attract over $100 billion in investments into the country.Prime Minister Narendra Modi plans to unveil a long-awaited
industrial policy soon to boost domestic manufacturing and accelerate economic growth before central polls next year
Under the new plan, a company need not purchase land or equipment but could lease them on long-contract basis helping lower costs and cut
down time on setting up operations, secretary to the Department of Industrial Policy and Promotion Ramesh Abhishek said in an interview
Units located in industrial clusters may be able to share infrastructure."We have to be competitive," said Abhishek, whose ministry has been
working on the plan for over a year
"For this we need to upgrade our technology, lower costs, improve logistics, skill our labour
The industrial policy will bring all things together and will come out with recommendations on what needs to be done."PM Modi's
administration has been struggling to fulfill one of his key campaign pledge -- creating 10 million jobs a year-- that propelled him to
As the country heads to the poll due early 2019, the main opposition Congress party is moving to cash in on the disenchantment over
unemployment and rising social tensions.The reform, likely to be one of the last few measures before PM Modi seeks re-election, attempts to
attract over $100 billion in investments into the country and kick start the economy
Quarterly growth is expected to have slowed in the three months ended September even as a liquidity crunch at banks hurts business sentiment
before state elections.Rules will be eased for small and medium businesses which constitute more than 90 per cent of Asia's third-largest
The country jumped 23 places to the 77th position in the World Bank's global ease of doing business rankings announced earlier this
month.The government is also completing work on the $100 billion Delhi-Mumbai Industrial Corridor that has been delayed by a decade
