Minister calls for zero defect-zero effect policy

Streamline taxes, implement incentives and create healthy competition among states to attract domestic and global investors for India to break into top 50 in the World Bank’s Ease of Doing Business Rankings.

“We need to think about providing incentives to the industry while we have been simplifying the procedures,” Minister of State for Commerce and Industry, C.R. Chaudhary, said.

He was speaking at the ASSOCHAM Ease Doing Business Summit in New Delhi on 2 Nov 2017.

“Our target is to come at 50th place and that will happen when we facilitate industrialists and investors,” he said in comments on India being ranked 100th in World Bank’s latest global rankings, up 30 notches.

“Without encouraging the manufacturing sector and without foreign direct investment (FDI), we cannot develop and come in the category of developed countries,” he said.

Chaudhary also urged the industries to take steps to improve quality of their products thereby to ‘zero defect and zero effect’ policy.

“We need to maintain quality otherwise it will become very difficult for us to sustain in the international markets.” fii-news.com