Question : Corporate Interaction to Boost Investment

(a) whether the Government has held discussions with India’s 25 top corporate houses and lenders, to assess their investment plan and tried to resolve issues that they may be facing in their bid to expand operations;

(b) if so, the details thereof and outcome thereto;

(c) whether capacity constraints are often cited as a reason for firms holding back investments, and in many cases investments that have been announced did not take off due to delay in clearances for decades; and

(d) if so, the details of such projects identified in the past one decade along with steps being taken to resolve such issues and future action plan prepared so far?

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THE MINISTER OF COMMERCE & INDUSTRY
(SHRI PIYUSH GOYAL)

(a) to (d): The Government holds regular interaction and discussions with various industries and industry bodies to understand the issues being faced by them in their bid to expand operations and possible measures to resolve them. Engagement with industry bodies like CII, FICCI, ASSOCHAM etc. gives deeper insight into business plans, and possible constraints faced by industry.

Recently, a National Consultation Forum on Make in India 2.0 was organised in line with the Hon’ble Prime Minister’s vision towards $1 Trillion Manufacturing Economy, with the objective to develop a detailed actionable roadmap, focused on identified sectors and discuss conducive policy environment and interventions needed to make India’s manufacturing globally competitive. The National Consultation was attended by sectoral Ministries of Champion sectors, industrialists, and concerned industry associations.

Regarding clearances, Ease of Doing Business rankings by World Bank showcase improvement wherein India has jumped from 142nd rank in 2014 to 63rd rank in 2019.

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