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.
New
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.
But
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.
"India
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.
The
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.
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