1 min read.Updated: 17 Dec 2021, 06:46 PM ISTLivemint
The PM sought suggestions to make the business process easier in India, attract more capital and further the reform process
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Prime Minister Narendra Modi on Friday met with leading private equity/venture capital players to seek suggestions on reforms required to make India a more attractive investment destination, reported news agency PTI.
The industry chambers said that government measures will help firmly entrench the nascent signs of recovery being currently seen in private investment.
Capital expenditure by the government through enhanced infrastructure spending should in the meantime continue to support growth, CII president TV Narendran said.
"Infrastructure sector with a multiplier impact on rest of the economy requires interventions especially to improve and diversify sources of financing. In this context, it is suggested that government should consider developing the municipal bond market so that urban local bodies can raise funds for investing in infrastructure," he said.
On the other hand, Assocham suggested extending a scheme the 'Vivad Se Vishwas' for highly regulated sectors like telecom, power and mining, as also a dispute resolution scheme for issues related to customs.
"We appreciate the government for the Vivaad se Vishwas scheme which has gone a long way in reducing the long pending litigations and resulted in greater success.
Several infrastructure and service sectors such as telecom, power, mining etc, which were privatised to drive investment and growth are highly regulated/licensed," Assocham president Vineet Agarwal said.
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