“Haryana Government has confirmed its participation as the ‘Partner State’ in the 3rd edition of CII Invest North conclave, scheduled for 24 – 25 July 2014 at Hotel JW Marriott, Aerocity, New Delhi. The conclave, which will attract both domestic and overseas investors, gains prominence as attracting investments is on top of the agenda of UP government as well”, shared Mr Malvinder Mohan Singh, Chairman, CII Invest North 2014 and Executive Chairman, Fortis Healthcare Ltd.
|Mr Malivinder M Singh, Chairman, CII Invest North 2014 & Executive Chairman,
Fortis Healthcare addressing the Media at New Delhi
“In B2G meetings tied up at CII Invest North Conclave, Haryana can attract huge investments to the tune of crores, courtesy its well-developed physical infrastructure and good connectivity with all major cities of the country coupled with a robust industrial infrastructure with various industrial areas and specialized parks / Zones. Further, it offers a rich pool of skilled, semi-skilled and unskilled human resources, making it suitable for both knowledge-based and manual labour intensive sectors”, he added.
“Scheduled on 24 – 25 July 2014 at Hotel JW Marriott, Aerocity, near IGI Airport, New Delhi, CII Invest North conclave would attract both domestic and overseas investors like the previous two editions. The conclave gains prominence as attracting investments is on top of the agenda of Modi Government as also all northern state governments”, said a CII release.
According to CII, some of the key potential sectors for investment in northern states are Infrastructure, Manufacturing, Agro-Processing, Aerospace, Healthcare, Auto & Auto Components, Tourism Renewable Energy, Defence Production, Engineering, R&D, Power, Textiles, IT & ITES.
“Given the GoI’s thrust on the manufacturing sector because of its employment generating nature, coupled with the proposed Delhi Mumbai Industrial Corridor (DMIC), Eastern and Western Dedicated Freight Corridors, this sector can also play a critical role in shaping the investment landscape of the region. In addition, based upon the success of Project Monitoring Group (PMG) at the Government of India level, northern states are also setting up the same which needs to be showcased proactively. Hence Invest North 2014”, further added the CII release.
|Mr Malivinder M Singh|
Specifically talking about key sectors of significance across north, he highlighted that “While Delhi offers world-class physicalinfrastructure and connectivity and can be a services hub; Punjab, Haryana and Uttar Pradesh are major contributors inagriculture, food processing and manufacturing; Himalayan states of Jammu & Kashmir, Himachal Pradesh and Uttarakhandhave abundant water resources and picturesque locations ideal for tourism industry. Rajasthan is a mineral rich state and is also one of the leading tourist destinations in the country.
“Key Projects to be showcased in Invest North 2014 include 7 Industrial townships across DMIC which could be a US $ 110 Billion opportunity; Smart Cities project, Industrial Labour Housing projects, Sector Specific Clusters/Parks, Healthcare, Tourism Circuits, Bus Rapid Transit Systems, Integrated Townships/ Industrial Parks, Dry Ports, Exhibition & Convention Centers, Road Projects, Knowledge Cities, Food / Agro Parks, Projects in Solar energy, Ceramic & Glass, , Textiles, Urban Infrastructure Including logistics & Transport and Healthcare” informed Mr Singh.
“The northern states are keen to seek fresh investments and forge new partnerships that would enable them to further leverage their growth potential and regain their competitiveness”, he emphasised.
“Invest North will have dedicated state sessions, to be addressed by respective Chief Ministers or Industry Ministers in addition to a brainstorming session on Ease of Doing Business with specific reference to Northern States where Chief Secretaries of the Northern States along with Secretary – DIPP would participate. A Special Plenary of the key Union Ministers is also proposed to share some of Industry’s concerns impacting the competitiveness of the region for their necessary intervention”, further highlighted Mr Singh.
Mr Zubin Irani, Chairman, CII Northern Region and President Building & Industrial Systems (India), United Technologies Corporation, shared that “The high point of the event is its timing as today, the whole world is looking towards India with new hopes. The key highlightwill be will be one-to-one meetings, i.e. Business to Governement (B2G) and Business to Business (B2B) meetings to help industry engage with state and central governments, explore business opportunities and forge new partnerships”.
“Governments of Haryana, Delhi, Rajasthan, Punjab, Uttar Pradesh and Uttarakhand have confirmed their participation. As far as international participation is concerned, CII is reaching out to countries through their embassies / high commissions and investment facilitation agencies of other countries. US India Business Council (USIBC), Hong Kong Trade Development Council, Indo-Canadian Business Chamber (ICBC), KOTRA, American Chamber of Commerce in India, India Bangladesh Chamber of Commerce & Industry (IBCCI) have confirmed as Overseas Institution Partners. Business delegations from various countries like Germany, Korea, Japan, China, UK, Singapore, Bangladesh, African Union and Turkey are also expected”, informed Mr Irani.
“As part of the knowledge resources, a ‘Compendium capturing the Investment Opportunities in Northern States’, report on ‘Ease of Doing Business in Northern States’ and another report on ‘Social Indicators & Best Practices’ will also be released. The objective of these reports is to capture the finest practices and encourage other states to adopt these”, highlighted Mr Shreekant Somany, Deputy Chairman, CII NR & CMD, Somany Ceramics Ltd.
· The region accounts for 30.7% of the geographical expanse and is the largest contributor to the national GDP at 25.9%.
· However, the region’s share for cumulative FDI inflows (from April 2000 to April 2014) has been 27.9 %, which has not been to commensurate with its size and potential. Further, within this, the bulk of the FDI has been limited to the NCR area.
· One of the reasons attributed to lower investment inflow in the region is the absence of positioning and branding of Northern States as preferred investment destination. State from West and South are very proactive in branding themselves.
· In the Northern Region, some of the sectors which offer immense opportunity include agriculture and agro based industries; infrastructure projects including power; manufacturing especially auto and auto components, pharmaceuticals, textiles, chemicals, machinery and equipment manufacture, consumer products and services sector including tourism, IT & ITES, real estate, healthcare and education.
· The proposed Delhi Mumbai Industrial Corridor, Eastern and Western Dedicated Freight Corridor are expected to play a catalytic role in changing the dynamics of manufacturing and infrastructure sector in the North, and may prove as game changer for the region. A substantial portion of these Corridors falls in the Northern States.
· Along these Freight Corridors, two Industrial Corridors are proposed- Delhi Mumbai Industrial Corridor (DMIC) and Amritsar Kolkata Industrial Corridor (AKIC) are also being proposed.
· In the recent past, there have been a number of developments and policy initiatives setting the tone for high growth across the region.
For example –
· Haryana and Delhi have revised their policies. Punjab recently came out with the new Industrial Promotion Policy 2013 offering host of incentives and reforms to attract investments.
· Uttar Pradesh Government has taken several measures for the development of industrial sector with an investor friendly policy framework with thrust areas including agribusiness, IT/ITes, biotech, food processing, handicrafts and tourism.
· Rajasthan, Himachal Pradesh, Uttarakhand and Jammu & Kashmir are in the process of revising their industrial policies.
· Rajasthan and Uttarakhand in the region have introduced statutory Single Window System and an online electronic clearance mechanism for the time bound approvals for the investment proposals. Other states have also setup Single Window System as one-stop facilitation center for industries.
· Recently, Government of Punjab has created a nodal agency, Punjab Bureau of Investment Promotion to function as Single Window System in the state. This agency is vested with powers to provide nearly 20 approvals/ permissions to the businesses to set up their operations in the state.
· In addition, based upon the success of Project Monitoring Group (PMG) at the Government of India level, states in the region are also setting the same. To start with Uttarakhand, HP and Uttar Pradesh have set up PMG web portal for speedier clearance of the pending projects.
· As per UNCTAD survey on top host economies for FDI in 2011–2013 India ranks third in terms of FDI priority countries. Further, with the recent announcement to enhance the FDI limit in defense manufacturing and insurance sector to 49 per cent in the Union Budget 2014-15, India has a plethora of investment opportunities for the international investors.