State govts must also take lead in instituting labour reforms: NITI Aayog CEO

The state governments must also take the lead in instituting labour reforms and rationalising costs of power to the industry, Niti Aayog CEO Amitabh Kant said on Friday.

He further said the Centre and states should work together to make India one of the easiest places to do business.

Addressing a virtual event organised by industry body PHDCCI, Kant also expressed concern over high food inflation due to higher prices of oilseeds and edible oils.

"State governments must also take the lead in instituting labour reforms, and rationalising the costs of power to industry. We must strive together to make India one of the easiest places to do business," PHDCCI quoted Kant as saying in a statement.

According to the statement, Kant said action is now needed at all levels of government to rationalise and streamline forms and clearances.

"Single window clearances, timely clearances and land acquisition are areas for state governments to focus on, '' he added.

Noting that the public-private partnership (PPP) in social infrastructure is another avenue, Kant said, "Now, more than ever, the importance of social infrastructure such as healthcare facilities has come to the fore".

According to Kant, partnerships with the private sector in unlocking the potential of innovative financing mechanisms such as asset monetisation, and providing an impetus to green finance are other potential areas, among others.

He also emphasised that India should focus on sunrise areas for growth, such as electric vehicles and battery storage manufacturing, green hydrogen, artificial intelligence (AI), data analytics, blockchain, cloud computing and genomics.