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- BACKGROUND:
- Gujarat started
- States such as Madhya Pradesh, Chhattisgarh and West Bengal have taken a
cue from Gujarat in staging their own investor summits, stirring up a
bit of competition.
- Also, those such as Karnataka, Telangana and Andhra
Pradesh came across as being more proactive in seeking hi-tech
industries. Tamil Nadu has always underplayed itself.
- latest - Tamil Nadu
- Significance:
- Employment
- Income
- Infra development
- GDP contribution
- Export potential --> CAD better
- Tax revenue --> FD better
- Challenges/Limitations:
- There is data to show how little of the investment promises actually translate to investment on the ground
- clearances and the process of land acquisition take time.
- grave power crisis
- infrastructure issues
- health of the economy, both global and domestic.
- Limited: skilled manpower, peaceful industrial relations and a strong manufacturing ecosystem
- Solutions:
- Ease of doing business
- Labour and factory law reforms
- Clearances - faster
- Plug and Play projects
- Skill India Mission
- Infrastructure - SMART City, RURBAN Mission, ATAL Mission
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