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SEZs may turn India into global manufacturing hub—PwC |
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29/08/2008 |
| Special Economic Zones (SEZs) can help India become a global manufacturing hub and hence the Union government should provide a hassle-free regulatory and fiscal environment to entrepreneurs, PricewaterhouseCoopers (PwC) said in a report.
"India must aim to become a global manufacturing hub. Government policies must support this and tax policy must incentivise this. More so since the myriad hassles to set up and do business in India are a big disincentive", the report observes.
It stressed that SEZs clearly provided an answer for India to attract global manufacturing companies, since the private sector has been incentivised to expend large amounts to develop world-class industrial and social infrastructure in the zones.
"If we want to make India a global manufacturing hub, we need to improve the environment for manufacturing. Given the current political and economic set-up, improving conditions nationwide for manufacturing will be difficult", the report states.
It would be a better strategy for India to create the enabling environment in pockets through SEZs, with high quality infrastructure, a liberal and supportive business policy environment, providing the necessary push which the manufacturing sector urgently requires. |
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