.
.
.
Purportedly there are between $400-500 billion worth of projects waiting clearance from the center.
Imagine the massive boost to the economy from such an investment.
Project clearances are notoriously slow in India, because there are several layers of power in India, and several layers of red tape....center and local. And then you factor in the local mafia's and police. In certain countries the strong central government have erased such nefarious elements.
This is one of the factor's which discouraged Steve Jobs from investing the world's largest technology company in India...with its natural pool of IT talent, which otherwise ethnically has a very prominent presence in Silicon Valley (34%).....$600 billion??? market capitalization company, where most of its products are MANUFACTURED elsewhere.
Steve Jobs FIRST came to India, and was discouraged. Then he went elsewhere.
Some in the BJP foolishly think that project clearances should be used as political bargaining chips....BUT then again if all the big projects are merely cleared in Gujarat and Maharashtra...then where will India be?
Narendra Modi needs to produce a new system of project clearances...for small medium and large mega projects...domestic and foreign.......which are cleared even before they are submitted.
________________________________________________
PMO hawk-eye on progress of mega projects
By Times of India .
The PMO will monitor big projects involving large investments, Narendra Modi assured investors on Monday.
He assured them an open environment that would encourage investment and reward enterprise. Modi gave this commitment as he accepted the proposal of an India-US Forum representative to personally track progress of these mega projects. The project monitoring group, set up by the UPA is under the cabinet secretariat and has helped clear several stalled projects.
However, investors would prefer the PMO monitoring the larger projects to accelerate decision making. Getting stalled projects off the ground is important to reviving the manufacturing sector and boosting overall growth.
After listening to suggestions made by business leaders, the PM said the solutions to most issues mentioned would be found through three things: Proactive, pro-people good governance, a policy-driven state and consistency in policy.
Conceding that intellectual property rights are an important issue, he said all countries should together find a solution to it. Modi highlighted key priorities of his government, including improving "ease of doing business", and the "Make in India" initiative. He mentioned the importance of investment in infrastructure, especially in the railways.
He said, in agriculture, his "per drop more crop" vision would help tackle farmers' problems, and cope with climate issues and water shortages. The PM said it is important to listen to investors, as this helps speed up decisions. Modi mentioned his mantra of skill, scale and speed, and said he keeps states on board while taking key decisions.
The "Make in India" tableau at 66th Republic Day parade at Rajpath, New Delhi, on January 26, 2015. (PTI photo)
"It will make it easy to do business; our immediate target is to bring us from the rear ranks of the world into the top fifty," Modi told the India-US business summit. "You'll find a tax regime that's predictable and competitive. We've removed some excesses of the past. We'll now address the remaining uncertainties," he said.
READ ALSO: Modi meets top US CEOs, pitches for big-ticket investments
Modi listed opportunities for businesses in the government's plans to upgrade infrastructure. He included opportunities in railways, the Clean Ganga mission, urban waste management, connecting villages and homes for every Indian in seven years as areas where opportunities exist.
The PM called for strong partnership with the US saying the two countries joining hands would make the world a better place. "India will be an important anchor of stability for the global economy; and an engine for its growth. Above all, a prosperous India will be a force of peace and stability in the world," he said.
