INDIA NEEDS TO ADVANCE ITS RULES OF ORIGIN FOR ITS MAKE IN INDIA

INDIA NEEDS TO ADVANCE ITS RULES OF ORIGIN FOR ITS MAKE IN INDIA

INDIA NEEDS TO ADVANCE ITS RULES OF ORIGIN FOR ITS MAKE IN INDIA

No.PR-162
December 20, 2014
New Delhi



INDIA NEEDS TO ADVANCE ITS RULES OF ORIGIN FOR ITS MAKE IN INDIA



India will have to reorient its trade facilitation policies as well reform its existing rules of origin procedures to cement its global integration to make sure that Make in India succeeds as is being aspired by the present dispensation under the leadership of Prime Minister Mr. Narender Modi, indicates, Commerce Secretary Mr Rajeev Kher.

While addressing the members of PHD Chamber of Commerce and Industry at its 109th Annual Session on “Making India a Global Manufacturing Hub”, Mr. Kher said that the rules of origin prepared for successive free trade agreements (FTAs) in the recent past would have to be reset to meet the modern requirements of global business so that it becomes integral to India to make a success for its ongoing Make in India.

India would have to evolve into a scale to accelerate its competitiveness so that it matches the one that prevails in the economies of scale and be liberal in its imports substitution to stand out to compete as this approach would be ideal to promote the call of Make in India, felt the Commerce Secretary.

Secretary, Ministry of Coal, Government of India, Mr. Anil Swarup in his observations announced that the new roadmap relating to coal sector transformation would be unveiled by the present government sometimes in January next year which would provide for policy prescription so that the coal block allocations lead to optimum utilisation of its reserves with fair participation from private sector.

He asked the industry to organize itself in a manner so that issues confronting industry are synchronized in a manner that it receives the attention of the government at once for their redressal with a unified approach so that discrepancies arising out of industry being little fragmented are settled in right spirit.

Director Research, Brookings India and former Dy. Governor, RBI Mr. Subir Gokarn emphasized that India would have to provide for a competitive environment for its industry so that it competes as aspired.

Ends.