ACI works on business model for India

Singapore’s Asia Competitiveness Institute (ACI) is working on a business model for Indian states to enable them to compete with South East Asian investment destinations.
The ACI, a think tank of the Lee Kuan Yew School of Public Policy, will submit a detailed report to each of the 12 states and make suggestions to improve the business terms under the “Ease of Doing Business” for foreign investors.
Since March 2015, it has already signed six Memorandums of Understanding (MoUs) with the Confederation of Indian Industry (CII) and through the CII with five states to do in-depth business environment studies in each state.
The MoUs are with CII, Andhra Pradesh, Bihar, Chhattisgarh, Madhya Pradesh and Odisha. The ACI would sign six more MoUs with the states including Rajasthan.
ACI will prepare detailed reports from studies of each state’s business environment.
The “Ease of Doing Business” in these states will be benchmark to compete with the South East Asian nations seeking foreign investments.
Madhya Pradesh’s Principal Secretary Mohammed Suleman, in Singapore on September 7, said of the ACI study and expected report: “We have to ultimately benchmark and compete with the East Asians (for foreign investments).”
He acknowledged ACI’s in-depth knowledge of the Asian business models for attracting investors, and assured his state would address all issues to make it easier for foreign investors.
”We have to build capacity on ease of doing business and see what other East Asian economies are doing (relating to attracting investments),”
ACI Co-Director Associate Professor Tan Khee Giap added: “We will prepare detailed report which will look at their (the Indian states) weak indicators and how these can be improved.”
The report will include a survey of businessmen on current investment criteria and what more they are expecting for an investor-friendly environment.