Implement high speed e-governance

June 26, 2014 4:35 am

“We need to attract investments from within and overseas,” says M Sankaranarayanan, President – Auto & CMI Vertical, RSB Transmissions (I) Ltd.
 RSB is an engineering organisation with business interest ranging from design to manufacturing of aggregates and systems related to commercial vehicles, passenger cars, construction and farm equipment. M Sankaranarayanan speaks about various schemes that could make India a global manufacturing hub.
Open up the doors India can become a global manufacturing hub by fully opening up the doors for global investors and affluent NRIs through FDIs. We need to attract investments from within and overseas. Favourable fiscal measures, single window clearances and improved infrastructure with uninterrupted power supply are the keys to success in manufacturing sector.Further, clear tax laws and uniform tax structure pan India is required. Big boost to renewable energy also should be given.
Success mantraImplementing some steps could prove as success mantra for Indian manufacturing sector to see a rapid growth. Some of which are:• Strengthen rupee by giving big thrust to exports through fiscal incentives• Encourage on-line approvals with e-documentation• Provide funding at subsidised rates from nationalised banking sectors for green-field projects with high export potential• Boost acquisition of latest technology from overseas.
Present issues In auto component sector, low off-take from OEMs due to sluggish buying power consequent to rising fuel prices. There is a lack of focus on the infrastructure development and mining sector production in CMI sector. Govt needs to have speedy clearances of projects in construction, mining and infrastructure to give boost to CE and auto sectors. The outdated government procedures should be simplified as there is a need to implement high speed e-governance.
RSB run RSB plans to increase its global footprint and take up its production globally. It will focus on moving up the value chain for creating more aggregates and set up more shops across India.