The Big Story The Reserve Bank of India in the MPC meeting has decided to permit a one-time restructuring of corporate loans to avert a surge in bad debts as the economy reels from the Read more…
Why India end up Importing more ?
The state of the world today teaches us that (AtmaNirbhar Bharat) “Self-reliant India” is the only path. It is said in our scriptures — EshahPanthah. That is — self-sufficient India.
— Prime Minister Narendra Modi, PIB
Well government has pushed a lot in last 5 years in terms of being self reliant and also being the major production hub from launching various schemes and initiatives to boost home production
But ground rules show us different picture. As per Economic Survey Report 2019-20 tabled in Parliament it showed that processes for imports, across the country “ironically, are better than those for exports”
Report says that, based upon a series of case studies to analyse the time taken at each stage of the supply chain for specific merchandise items to travel from factory gate to the warehouse of the foreign customerthere exist “inordinate delays in loading and customs processes in Indian sea-ports
Large variance in the process of the exporting goods add up extra padding of uncertain waiting time. It was also found that Airport were handling the exports in far better mechanism as compared to Sea ports
Well India has done great job in terms of World Bank’s Doing Business rankingsby improving from 142 in 2014 to 63 in 2019, the country continues to trail in parameters such as Ease of Starting Business (rank 136), Registering Property (rank 154), Paying Taxes (rank 115), and Enforcing Contracts (rank 163).
Enforcing a contract in India takes on average 1,445 days in India compared to just 216 days in New Zealand, and 496 days in China. Paying taxes takes up more than 250hours in India compared to 140 hours in New Zealand, 138 in China and 191 in Indonesia
Well India Inc and Government will need to step up and spend huge chunk on the infrastructure to remove the constraints in growth and GDP target of $ 5 Trillion
Published By: akash On 03/31/21 6:39 AM