CommMin assurances on infra, sops cheer India Inc .

CNBC-TV18's Rituparna Bhuyan reports on commerce minister Anand Sharma’s first interaction with India Inc after the big ticket decision on multi-brand retail in Parliament.

Unlike previous meetings, this time around Indian industry was given certain specific assurances such as the promise that in 2013 national investment and manufacturing zone (NIMZ) will be a key focus area for the ministry and added that 10 of these super manufacturing zones have already been notified. The minister also revealed that he plans to write to the states to promote the concept of NIMZs.

Indian industry expressed concerns regarding the Land Acquisition Bill which will be taken up in the session of the Parliament. From the sidelines of the meeting Harsh Singhania, MD, JK Paper  said, "I think there are some major apprehensions on the possible increase in the cost of acquiring land, reduce competitiveness and time taken for acquisition.

The minister discussed the progress that has been made in the national investment and manufacturing zones (NIMZ) and how that land could be made available to a fairly broad range of businesses."

Ficci president Naina Lal Kidwai added, "In fact, assurances have been given that solutions will be found to resolve infrastructure hurdles and allow industry to manufacture rather than worry about infrastructure and land."

Sharma also assured the industry that he will soon be announcing a few export sops. Sources indicate that on Monday the commerce ministry is going to announce a series of export sops such as interest subvention on export credit for sectors like auto, pharma and ready-made garments (RMG).


Source : moneycontrol.com