‘Ease of doing biz, not sops attracts investors’
targeted `85,000 crore.
Mr Modi said the states earlier used to perform “charity” and provide many incentives to attract investment. “One state would waive tax, another would provide free power.
He said the investors too delayed their decisions, hoping for better incentives from other states.
“But I am satisfied that this situation has changed drastically in the last few years. Now, state governments have started realising that the competition on incentives can neither benefit the states nor the industrialists.” he said in his 30-minute speech.
“For attracting investment, the proper ecosystem, dismantling of the inspector raj and doing away with the permit system is required,” he said. “Nowadays, the state governments are coming forward to compete in creating this type of ecosystem. They are simplifying the system, amending laws. ” he said.
On the goal to become a five trillion dollar economy, he said, “Every state and every district of the country has a great potential and they will play a vital role in achieving the target.” Himachal Pradesh governor Bandaru Dattatreya, chief minister Jai Ram Thakur, Sikkim chief minister Prem Singh Tamang, Union ministers Prahlad Patel, Anurag Thakur and Niti Aayog vice-chairman Rajiv Kumar attended the event.
The PM also stressed on the tourism sector. “Himachal has a huge potential for investment in the field of tourism, pharmaceutical and other sectors,” he said. He praised Himachal Pradesh initiatives like the creation of a single window clearance system, transparency in land allotment and sectorspecific industry policies.
—PTI
For attracting investment, the proper ecosystem, dismantling of the inspector raj and doing away with the permit system is required — Narendra Modi, Prime Minister