SME Times News Bureau | 25 Apr, 2020
Union Minister of State for Finance Anurag Thakur on Saturday said that
the government wants to make India the next manufacturing hub, post Covid-19.
He said the government was also consolidating labour laws to make the country
preferred investment destination.
"We are committed to make this nation the next manufacturing hub,
post covid-19. Consolidation of labor laws, reduction of compliances are some
of the measures to make our country the most preferred for investments.
Covid-19 has provided us a challenge and opportunity," he added.
Thakur was interacting with members of Federation of Telangana Chamber of
Commerce and Industry (FTCCI) and industry leaders from the state.
"So far India is far successful in containing coronavirus and the country
is set to attract companies from all across the globe due to its pro-business
policy and hostility towards the country where the virus originated," a
statement from the organizers quoted him as saying.
The minister said the government took many steps to control Covid-19 with the
active commitment of the people of India. The government also initiated many
more measures with the positive revival of Indian economy in mind.
"We are committed to make this nation the next manufacturing hub, post
covid-19. Consolidation of labor laws, reduction of compliances are some of the
measures to make our country the most preferred for investments. Covid-19 has
provided us a challenge and opportunity."
Karunendra S. Jasti, President, FTCCI, said Covid-19 sounded a death knell to
small businesses which together employ more than 60 per cent of the workforce
in India. While appreciating the government's quick action to control the virus
by announcing the 21+19 day lockdown in the country he requested the government
to wage a similar battle against the ailing economy and come to the rescue of
industrial and business entities.
The already announced fiscal packages such as cheaper credit and other measures
provide minimal relief but actually do not alleviate the pain and suffering
this disorder is going to pose to MSMEs and other businesses for many more
months to come, he said.