Government tapping corporate to spur investment, boost economy: Report

Government tapping corporate to spur investment, boost economy: Report

The government has approached 25 large corporate houses to ascertain their investment and expansion plans and address pain points in order to boost economic activity and investments.

The five-year investment roadmap and short-term expansion plans have been sought, besides addressing issues raised by the companies. The government would try and connect the corporates to the relevant authorities in order to iron out regulatory, licence, or funding-related problems, the paper quoted an officer. say.

Initiated under the Project Management Cell (PMC) by Commerce and Industries Minister Piyush Goyal, the process has been on for a few weeks, the paper said.

Maruti Suzuki and Hindustan Unilever were among the first to approach the governments. The companies who have raised various concerns with the central and state governments also include Tata, Reliance, Birla, Mahindra, Adani, Infosys and Wipro.

HUL pointed out the misuse of intellectual property rights and differing state regulations around plastics while Maruti had flagged financing troubles.

The next list of companies includes Vedanta Group (Anil Agarwal), Bharti Group (Sunil Mittal), JSW (Sajjan Mittal), Sun Pharma (Dilip Sanghvi), HDFC (Deepak Parekh), ICICI Bank (Sandeep Bakshi), Kotak Mahindra Bank (Uday Kotak), L&T (SN Subrahmanyan), and Bajaj Group and Shapoorji Pallonji Group representatives.

The government is also looking to tap top players in the retail, aviation, textiles, roads and railways sectors, besides consulting with lawyers to understand their clients’ foremost issues.