'Need district-level Ease of Doing Business index'

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SME Times News Bureau | 29 Jul, 2020
Industry body PHD Chamber of Commerce and Industry has urged the Centre to launch 'District Level Ease of Doing Business' rankings to ensure that smaller towns become more business-friendly in the coming times.

The industry body's President D. K. Aggarwal, in a virtual interaction with Commerce and Industry Minister Piyush Goyal, suggested the measure to promote healthy competition in more than 700 districts in the country.

"The focus should be put upon One District One Product (ODOP) scheme that aims to give boost to the traditional industries and enable the people to gain expertise in one product," Aggarwal said, as per a statement.

"The scheme has the potential to contribute towards the growth of states' GSDP and raise the quality of the products."

According to Aggarwal, in the post-Covid scenario, there would be noticeable changes in the global supply chains and India should focus on capturing a significant share in the world economic system.

"To become 'AatmaNirbhar Bharat', it is now imperative for our country to reduce import content and divert trade towards friendly nations while focusing on enhancing indigenous production and domestic capacity building," he said.

He further said that India should completely stop the entry of products from China, especially in the current difficult time, which may hurt the growth prospects of indigenous manufacturers.

"At this juncture, bolstering manufacturing at competitive costs should be a key focus area for the government," Aggarwal said.

"India should take advantage of the global supply chain disruptions and become a global manufacturing and exporting hub, going forward."

In addition, he said that India has immense potential to become a $100 billion FDI destination by 2022.

"Cost competitiveness of our businesses enterprises should be enhanced and a level playing field should be created.

"The government should focus on further reducing the cost of doing business in the country including the costs of capital, costs of compliances, costs of logistics, costs of land and availability of land and costs of labour," he said.