India is busy ramping up its endeavours to achieve total self-sustenance, in the short term it opens up a $ 82.2 billion opportunity for others to step in.
Gujarat, Haryana, Andhra Pradesh, Karnataka and others are offering foreign investors a slew of incentives such as refund of state taxes, exemption from land taxes and even tailor-made solutions to fit the requirements of each company to make themselves more attractive as investment destinations.
All FDI proposals from Chinese companies have been put on hold as India attracts investment and China draws global hostility.
These measures will give foreign and domestic investors a reasonable employment law framework, end intrusive labour inspections and reduce government interventions in the day-to-day running of businesses in India. This is expected to help attract more FDI.
Billions of dollars in FDI are gushing into the country and the government along with its valued partners must ease out all limitations to ensure that this process is not hampered.
Despite the restrictions on Chinese FDI into India, there is every potential for the start-up sectors in the country to grow and develop.
The Modi government has had success in its efforts to reform the Indian judicial system, but more reforms are needed to speed up the delivery of justice in India.
India is keeping a close eye on investments from China and the latter isn’t happy about it. This new dynamic at a time when China faces a backlash from around the world may alter the very basis of Sino-India relations irreversibly.