Startup India to make industry more competitive

By admin March 29, 2016 2:51 pm IST

Today our major competitor is China and they are devaluing their currency and becoming aggressively competitive. Indian government should also support us to make us more competitive.
  The ‘Make in India’ campaign is aimed at making India a manufacturing hub and the government is doing everything to lure investors. However, there are challenges too. Vivek Nanivadekar, Executive Director, Fibro India Precision Products Pvt Ltd outlines a few of such challenges. He also talks about the opportunities out of Startup India and Skill India.
Could you outline the challenges that the ‘Make in India’ faces?In India the basic challenges are the logistic, infrastructure and the License Raj. The new government has taken some steps and hopefully next one year the License Raj will get over and red tapism will go away and we should be able to do our business faster. We are 100 per cent confident that things will work as long as the current government is in power. There is a lot of potential for the ‘Make in India’ initiative and international community is also giving very good response for India.
Shouldn’t we promote ‘buy from India’ too?The major obstacle lies with the exporting Indian-make products. Today our major competitor in exporting is China and they are devaluing their currency and becoming aggressively competitive. Indian government should also support us to make us more competitive. PM Narendra Modi’s announcement on 100 per cent tax credit though Startup India would help us becoming more competitive. Now startups will be exempted from income-tax for a period of three years. It’s a great move!