‘Ease of doing business’ improved but long way to go: CII chairman
While addressing the media after a meeting of its members from Maharashtra, Gujarat, Madhya Pradesh and Goa, Sinha said that the industry is positive about the growth rate and there are a lot of opportunities, especially in new sectors like electric vehicles, data centres, electronic manufacturing, pharma inputs and aircraft manufacturing.
Mumbai: ‘The Ease of Doing Business’ has improved in the country in the last five to eight years but in many areas, there is a scope for improvement and it has a long way to go, Praveer Sinha, Chairman of Confederation of Indian Industry (CII) western region, said on Friday.
While addressing the media after a meeting of its members from Maharashtra, Gujarat, Madhya Pradesh and Goa, Sinha said that the industry is positive about the growth rate and there are a lot of opportunities, especially in new sectors like electric vehicles, data centres, electronic manufacturing, pharma inputs and aircraft manufacturing.
“The ease of doing business has improved, however, it is not 100%. It is still some 55% to 60%. There is a long way to go, in many areas,” said Sinha. When asked about the areas that need to improve, he refused to elaborate.
Sinha – also the Tata Power MD and CEO – welcomed the Centre’s indications about private participation in nuclear power generation.
“It is a good thought as it will speed up the generation of clean energy,” he added.
CII informed that 76% of the CEOs from the western region, who participated in its CEO Poll, were of the view that the Indian economy is expected to be safe in the backdrop of global geopolitical conflicts.
“The Indian economy, to a large extent, is insulated from what is happening in Europe and other places. It has its growth trajectory that will continue,” said Sinha. He added that economic growth is now more balanced as growth has moved beyond capital cities into tier-2 and tier-3 cities in Western Region states.