Union Minister Calls for Task Forces to Simplify Regulations
Union Minister Ashwini Vaishnaw has urged industry leaders to form sector-specific task forces to identify opportunities for simplifying regulations and addressing compliance issues.
Speaking at an event organized by the Public Affairs Forum of India (PAFI), Vaishnaw emphasized the need for collaboration between the government and industry to streamline processes and reduce bureaucratic hurdles.
He proposed the creation of seven to ten task forces, each focusing on a specific sector such as manufacturing or IT services. These task forces would meet monthly to discuss challenges and propose solutions.
Vaishnaw assured the industry that the government would seriously consider and work on the recommendations put forward by these task forces. He committed to dedicating two to four hours each month to address the issues raised.
Roadmap for $500 Billion Electronics Production Target
Vaishnaw also addressed the recently announced target of achieving $500 billion in electronics production by 2030. He stated that the government and industry are collaborating to develop a comprehensive plan to achieve this ambitious goal.
The plan will include significant reforms aimed at accelerating electronics manufacturing in India. Vaishnaw expressed confidence that with hard work and the right policies, the target can be achieved.
Aligning Business Goals with Economic Growth
The Union Minister further urged industry leaders to align their business goals with the projected economic growth rate of 10-14% over the next four years. He assured them of a stable economic environment with moderate inflation and a minimum growth rate of 6-8%.
Vaishnaw encouraged businesses to adjust their plans accordingly to capitalize on the anticipated growth and contribute to India's economic prosperity.