From Industry Week
NEW DELHI -- India must urgently improve its infrastructure and
reform its tax, land acquisition and labor laws if it is to fulfil its
ambition of becoming a leading international automotive manufacturing
hub, global carmakers said on Friday.
prime minister Narendra Modi invited investors last month to "Come,
make in India" as part of a drive to create manufacturing jobs for a
ballooning young population.
automobile executives warned at the annual meeting of the country's
biggest vehicle industry group that India must create a better business
climate swiftly or risk losing out to emerging market rivals like China.
has an opportunity to build a globally competitive (automotive)
industry," but to realize its full potential, the sector needs "a clear
roadmap", GM International president Stefan Jacoby said.
country needs to streamline taxes that vary state-to-state, ease rigid
hire-and-fire laws and set internationally harmonized fuel-emission,
safety and other norms, speakers told the Society of Indian Automobile
Manufacturers (SIAM). More here.