Prime Minister Narendra Modi’s prestigious ‘Make in India’ campaign managed to win several hearts of the people but it may not move the investors as such opines the experts. In his speech at the event, Modi said, “Incentive schemes cannot attract businesses, it is important to create the environment of trust and confidence.” But the reality is otherwise it is the incentives which play a crucial role in attracting the investors.
Modi spoke in details of being flexible in business rules, easing the permissions etc. These may be new for India but it is a bare minimum in the world of cut throat competiion. Tax holidays, excise duty exemption, concessions in entry tax, remittance of Central Sales Tax (CST), Land for free or subsidized costs are what the companies are looking for. It is proved already in the case of Andhra Pradesh and that is how the state even with out capital managed to win 3000 Crore Hero Motocorp manufacturing plant, the first ever in the entire Southern India.
