India difficult place to do business; more reforms needed, says World Bank

[SpArK]

Absolutely agree, India is a difficult place to start business, reforms are needed and I am hopeful that this govt will do so.

This government is in a difficult place, the government also needs reforms ..

 

[Robinhood Pandey]

Btw @Robinhood Pandey long time no see...how is business?

Business is going fine yet difficult.

Coz india is a difficult place to do business u know.

And

Reforms are needed ASAP.



Howz your business anyway ?

 

[Whazzup]

Absolutely agree, India is a difficult place to start business, reforms are needed and I am hopeful that this govt will do so.

Too much politics is involved in these things Land accusation bill and FDI are few examples. Won't be fast.

Anyway which kind of reforms do we need? Does that includes new labor laws ?

 

[[Bregs]]

Too much politics is involved in these things Land accusation bill and FDI are few examples. Won't be fast.

Anyway which kind of reforms do we need? Does that includes new labor laws ?

world bank is asking for new lab our laws certain clauses of which are pro management, more opening of fdi in insurance to majority stakes for them, FDI in retial, land reforms which can eat up or forest land or farmers land, so a delicate balance needs ro be made as growth is must too

Urgently we need GST bill to pass this year

 

[JanjaWeed]

Btw @Robinhood Pandey long time no see...how is business?

Business is going fine yet difficult.

Coz india is a difficult place to do business u know.

And

Reforms are needed ASAP.



Howz your business anyway ?

Business is very good & easy place to do business...no reforms needed...'cause I'm not doing business in a difficult place like India, where reforms needed!

 

[Star Wars]

Absolutely agree, India is a difficult place to start business, reforms are needed and I am hopeful that this govt will do so.

I am not expecting much until April 2016 when the RS numbers change.. Maybe some executive decisions will be taken before that. But things should be a lot easier after April 2016...

I bet he is in overseas if he is in business. Cause India is a very difficult place to do business and needs reform.

Is this a state issue or central issue ? Because i am a bit confused as Gujarat is easier to do business than other states. Yet focus is on India being a difficult place to do business.

 

[MilSpec]

Too much politics is involved in these things Land accusation bill and FDI are few examples. Won't be fast.

Anyway which kind of reforms do we need? Does that includes new labor laws ?

ease of setting up business, CST/BST number, VAT number allocations, Shop act license. all need reform. Sales tax office is one of the most corrupt institutions in India.

 

[Star Wars]

PMO seeks to hasten labour reforms; trade unions say proposed reforms pro-corporate, govt taking unilateral approach - The Economic Times

NEW DELHI: Within days of Prime Minister Narendra Modi assuring business leaders that the government will create enabling environment for investment, the Prime Minister's Office (PMO) has asked the labour ministry to step on the reforms paddle. Officials of the labour ministry met those of the PMO on Friday, and then a day later they met the top brass of NITI Aayog, the government's policy think tank, to lay down the strategy for action. While the planned labour reform may bring cheer to industrialists and investors, it is unlikely to go down well with trade unions, which earlier this month went on a nationwide strike saying the measures will endanger jobs and make lay-offs easy.

A senior government official told ET that the labour ministry made an informal presentation to top offices of the government to convey the reforms undertaken by the ministry and the way forward. "We are committed to labour reforms for economic growth of the country and would carry on the work initiated in the direction of labour reforms," the official said on condition of anonymity. Trade unions say the proposed reforms are pro-corporate and that the government is taking a unilateral approach towards it. Modi had assured trade unions at the recently held Indian Labour Conference that his government would pursue all reforms only through stakeholder consultations. The official quoted earlier said the government is determined to press ahead with reforms.

"Consensus and consultation are two different things. We will continue to consult all stakeholders on the reforms undertaken by the government, but we may or may not arrive at a consensus," the official said. After coming to power, the BJP-led NDA government has announced a slew of labour reforms, including codes on industrial relations and wages and mandatory minimum wages. The draft Small Factories Bill, Factories (amendment) Bill, Employees' Provident Fund (amendment) Bill and the Employees' ..

State Insurance (amendment) Bill are some of the other key proposals in pipeline. Besides, the government is finalising social security measures for domestic workers and contract workers by making appointment through staffing firms mandatory, a move that will help to formalise India's huge proportion of the unorganised workforce.

Of the estimated 400 million workforce in the country, barely 7% are in the formal or organised sector. The rest constitute the unorganised workforce, which is often deprived of minimum wages and social security.

Industry is all in with the government over its labour reforms. "The whole approach of the government is very positive. They are moving ahead with consolidating all labour laws into four codes while keeping in mind the interest and welfare of the workers," a CII official said, adding that these reforms will help both the labour and the industry and would help in employment generation. Although the government has ramped up public investments through a series of initiatives to fuel economic growth over the last 15 months, the private sector has not yet shown willingness to take risks due to lack of demand and legal hurdles over land acquisition and labour reforms.

Hence last week Modi urged India's top industrialists to open up their purse strings to invest in the domestic economy and create jobs in the wake of opportunities thrown up by the global turmoil. The meeting was attended by at least 40 industry biggies including Reliance IndustriesBSE 0.23 % chairman Mukesh Ambani, Tata Group chairman Cyrus Mistry, ITCBSE 0.10 % chairman YC Deveshwar, and Aditya Birla Group chairman KM Birla, besides heads of three apex industry chambers, FICCI, CII and Assocham.

The government's push on labour reform is welcome. India operates in a rapidly globalising world. Therefore, the content of labour relations must undergo a big change. True, policy must internalise the dynamics of such globalised production. But the government should also ensure that the huge gains from growth are shared in an equitable way. Only then can industrial relations focus on raising productivity. Workers will also need to be assured that their welfare will be a priority in policy-making..

 

[JanjaWeed]

I am not expecting much until April 2016 when the RS numbers change.. Maybe some executive decisions will be taken before that. But things should be a lot easier after April 2016...



Is this a state issue or central issue ? Because i am a bit confused as Gujarat is easier to do business than other states. Yet focus is on India being a difficult place to do business.

Gujarat ranks first in ease of doing business: World Bank report | Latest News & Updates at Daily News & Analysis

Gujarat emerged as number 1 state in ease of doing business with 71.14% according to World Bank reports.

Andhra Pradesh followed Gujarat with 70.12%. Jharkhand, Chhattisgarh and Madhya Pradesh emerged as top 5 states along with Andhra Pradesh and Gujarat in ease of doing business which is basically an asessment of business reforms sponsored by the Department of Industry Policy and Promotion (DIPP).

This is latest from the world bank. & not so surprised to see that those who promote economy & development in their state are listed on top 5.. & none of them are Congress ruled states. Just goes to show that this is not so much a central govt thing, but the state. However international observers don't look at that way. If they face hurdles either in WB, Assam or in TN..they are not going to point fingers at those particular states, but entire India. Unfortunately that casts a shadow on those who wants to make easy for the world to invest in their state.

 

[Abingdonboy]

Anyways sir when we're talking about these so called reforms do we include new labor laws and land accusation bills ?

Cause we need those 2 first.

Don't forget GST- that alone will add 0.7-1.2% GDP growth to India per annum.

 

[Whazzup]

Don't forget GST- that alone will add 0.7-1.2% GDP growth to India per annum.

That much ?

 

[Abingdonboy]

That much ?

That's a relatively conservative estimate to be honest. The productivity levels of Indian heavy goods vehicles is amongst the lowest in the world right now and around 1/3rd of those seen in the West purely because of the lack of GST.

 

[Slav Defence]

@WebMaster @Horus @Slav Defence @Manticore @Jungibaaz @Jango @T-Faz @blain2 @Adios Amigo @Oscar @Emmie


@waz indians derailing coz they are butt hurt and cant discuss on topic @SpArK being a tt cant be bothered to negative rate them even when they are off topic and behaving like apes coz of their flag...whats the use of such a tt?
Same TT suddenly thought he is superman when Pakistani members questioned why indian member opens Pakistani post...But its alright if MULTIPLE indian members ON EVERY OF MY THREADS ask the SAME question....MR @SpArK has no answer...so he is only moun phatt for Pakistani members and only to give them answers?! VERY BIASED!

These trolls are not letting a single thread of mine be discussed! Menace!

Mention Pakistani TTAS/TTCS/Professionals to handle Indian trolls,if spark isn't rating them.

regards

 

[SpArK]

Any reforms announced today in parliament or by anyone..

India is still difficult place to do business.

 

[Star Wars]

Any reforms announced today in parliament or by anyone..

India is still difficult place to do business.

Apparently reforms have been going on in state level and communication is so bad that even business leader were not aware of it... I have tagged you in the thread