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in 2008-09 which improved slightly to 5.3% in 2009-10 compared to the peak growth rate of 15.5% achieved in the year 2007-08.
quantitative and qualitative changes that are envisaged by the policy include creation of appropriate skill sets among the rural migrant and urban poor to make growth inclusive; increasing domestic value addition and technological depth in manufacturing; enhancing global competitiveness of Indian manufacturing through appropriate policy support; ensuring sustainability of growth, particularly with regard to the environment including energy efficiency, optimal utilization of natural resources and restoration of damaged/ degraded eco-systems etc.
The Policy also provides special focus to the those having s p besides i etc.
In addition, specific instruments have been conceptualized under NMP to achieve its stated objectives. Accordingly the policy envisages among others - rationalization and simplification of business regulations; simple and expeditious exit mechanism for closure of sick units while protecting labour interests; financial and institutional mechanisms for technology development, including green technologies; industrial training and skill up gradation measures; incentives for SMEs, clustering and aggregation support through National Investment and Manufacturing Zones (NIMZs), trade policy etc.
The project seeks to create a strong economic base with a globally competitive environment and state-of-the-art infrastructure to activate local commerce, enhance investments and attain sustainable development.The DMIC Project covers the six States of Uttar Pradesh, Haryana, Madhya Pradesh, Rajasthan, Gujarat and Maharashtra.The DMIC Development Corporation (DMICDC) was incorporated in January 2008 for project development, coordination and implementation of the numerous projects.
The Master Planning for the Investment Regions and Industrial Areas taken up initially to be developed as New Cities in Gujarat, Madhya Pradesh, Haryana, Rajasthan and Maharashtra have been completed and Master Planning in Uttar Pradesh has started.The State Governments have initiated the process of obtaining land for the new industrial regions/areas as well as for the Early Bird Projects.Environmental Impact Assessment (EIA) Studies have been initiated for five industrial cities.DMICDC had initiated development of Smart Communities or Eco-Cities that can contribute to improving the sustainability of the DMIC region. Japanese technology and expertise is being made available under collaboration with METI, Government of Japan for the Smart Community projects. Significant progress has been reported by DMICDC in the development of Smart Communities or Eco-Cities.Along with the planning of each city, preparation of feasibility studies for Early Bird Projects has been taken up on the recommendation of the State Governments. These projects are in the sectors of water supply, transport connectivity, logistic hubs, mega industrial parks, knowledge cities etc.
The land for the new industrial cities will be the contribution of the State Government.
It will be a repository of Government of India financial assistance. The funds will flow from the Trust to the SPVs and the Trust will receive upside from bidding and monetization of land values. The Trust will also provide resources to DMICDC for project development activities.
Capital inflow from other countries, particularly of an investment nature, therefore adds to the domestic investment.It also brings in new management practices and technologies, besides subsequently contributing to enhancement of the export potential/earning of the country.
FDI up to 49 percent in Broadcasting sector under the automatic route and FDI beyond 49 percent and up to 74 percent under the Government route both for Teleports and Mobile TV.
The advantages of India as an investment destination rest upon strong fundamentals, which include a large and growing market; world-class scientific, technical and managerial manpower; cost effective and highly skilled labour; abundant natural resources; a large English speaking population; independent judiciary, etc.This is now recognized by a number of global investors.Ongoing initiatives, such as further simplification of rules and regulations, improvements in infrastructure are expected to provide the necessary impetus to increase FDI inflows in future.
The continues to make efforts to increase economic cooperation with the developing as well as developed countries through different fora such as Joint Commissions/Joint Committees, other bilateral channels like interaction with the delegations visiting the country and organizing visits abroad for discussions on issues of mutual interest and business/ investment meets between Indian and foreign entrepreneurs to stimulate foreign investment into India. It has announced the setting up of ‘Invest India’, a joint venture company between the Department of Industrial Policy & Promotion and FICCI, as a not-for-profit, single window facilitator, for prospective overseas investors and to act as a structured mechanism to attract investment.
In addition, the Government has initiated implementation of the e-Biz Project, a Mission Mode Project under the National e-Governance Plan (NeGP) for promoting an online single window at the national level for business users. The objectives of setting up of the e-Biz Portal are to provide a number of services to business users, covering the entire life cycle on their operation. The project aims at enhancing India’s business competitiveness through a service oriented, event-driven G2B interaction.