In a bid to make the country a manufacturing hub, Prime Minister Narendra Modi today promised easy and effective governance to enable ease of doing business as he launched the 'Make in India' campaign at an event where the government hinted at amending labour laws.
Following up on his Independence Day address call, he kicked off the ambitious project at a star-studded event where leading industrialists and business leaders from India and abroad pledged to support to the campaign.
At the event to showcase India's potential as a location for factories to revive the flagging economy where Mukesh Ambani, Cyrus Mistry, Azim Premji, Kumar Mangalam Birla, Maruti Suzuki's Kenichi Ayukawa and Lockheed Martin's Phil Shaw were present, the Prime Minister said the gloom of the past 2-3 years when industry wanted to shift abroad has lifted.
He said the government will focus on building physical infrastructure as well as creating a digital network to make India a global hub for manufacturing of goods ranging from cars to softwares, satellites to submarines, pharmaceuticals to ports and paper to power.
While Modi himself did not announce any big-ticket measures, Commerce and Industry Nirmala Sitharaman said "With a view to providing flexibility in working hours, our Government is amending a number of labour laws," she said.
"We are fully committed to delicensing, deregulation and radical changes as we go along. We have an open mind," she said.
She noted that India has long been identified with red tapism, inspector raj and cumbersome rules and regulations that hinders smooth transaction of business.
"We want to change and chart up new course, new path wherein business entities are extended the proverbial red tap.
Today's event is being held after taking after taking serious of measures on ease of doing business," she said. .