Economy

Need to improve ease of doing business: Kumar Mangalam Birla

Our Bureau | | Updated on: Nov 26, 2021
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‘2021 will be remembered as a watershed year in fixing legacy issues in sectors such as telecom, power’

India needs to work on improving ease of doing business so as push the pace and scale of economic growth in the country.

According to Kumar Mangalam Birla, Chairman of Aditya Birla Group, India is far behind some of the other countries in terms of the ease of doing business and this is primarily because of the inherent complex structure of the country and the federal nature. However, the government has been working on improving the same.

The GatiShakti programme, for instance, would go a long way in improving the ease of doing business in the country. GatiShakti marks a paradigm shift in decision making and aims to break the silos of departmentalism.

Economy heading towards steady recovery: Kumar Mangalam Birla

“ The GatiShakti programme which brings multiple ministries and departments to come and work together together would go a long way in improving the ease of doing business,” Birla said, addressing the annual session and AGM of Indian Chamber of Commerce virtually on Friday.

The government is also doing “right things” in so far as enhancing investments in infrastructure is concerned. It would help change the pace and scale of economic growth in the country, he said.

According to him, 2021 is the new 1991, a year which was marked by landmark economic reforms.

“The year 2021 will be remembered as a watershed year in fixing legacy issues in sectors such as telecom, power etc. The coming few months we are going to witness a surge in capital expenditure,” he said.

On India’s transition to green economy, he said, the country’s progress in installing renewable energy capacity has astonished the world. The combination of solar power and hydrogen has the power to make the country energy independent.

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Published on November 26, 2021

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