Ease of business rules Vibrant Gujarat Summit
Ramesh Abhishek, DIPP Secretary said, “This notification will address at least 70 to 80 per cent of the issues related to investment and tax for the start-ups. This is just a first installment in a series of steps that are yet to follow to make it easy for the start-ups.”
GANDHINAGAR: Sustainability and ease of business continued to be two of the key points guiding the inaugural day of the Vibrant Gujarat 9th Global Summit 2019. The experts spoke about expanding the manufacturing sector in the country and creating jobs, while also talking about sustainable ways of doing so.
Speaking at a panel discussion about the recent government notification that would provide start-ups under the Startup India Initiative with relief from angel tax and formalities of merchant banker certificate, Ramesh Abhishek, DIPP Secretary said, “This notification will address at least 70 to 80 per cent of the issues related to investment and tax for the start-ups. This is just a first installment in a series of steps that are yet to follow to make it easy for the start-ups.”
“We will try to incentivise the investments made by the family and friends in the earlier stages, exempting those from taxes. We are also working to find tax solutions for the bigger investments,” he added. Niti Aayog CEO Amitabh Kant, who was present at another interaction, emphasised on the need for innovative and sustainable urbanisation.
“While the process of urbanisation has already ended in the US and the European countries, in India, it has just begun. However, with scarce resources, we need to depend on the sustainable and innovative solutions and planning,” Kant said.
Talking about the Delhi-Mumbai industrial corridor, he added, “Planned compact urbanisation, where manufacturing will be the key, with use of smart technology is what India needs right now. This is being done for the first time in India in the industrial corridor. Geographical and digital planning are converged together. We now need to link the manufacturing areas to the corridor, as the new cities will be planned on its either sides.”
He said no green field planning has taken place in India since the British left and it’s the first time that it will take place in the country with the industrial corridor.
As far as sustainability is concerned, Toshihiro Suzuki of Suzuki Motors said that hybrid and CNG vehicles were the most effective solutions over the issue of pollution, with the fastest results. He said he wishes to continue to work with Make In India.
A FESTIVE MOOD
- The Vibrant Gujarat Global Summit was inaugurated with grandeur, with lots of praise and promises from industrial representatives from several countries and world leaders, on Friday afternoon at the Mahatma Mandir in Gandhinagar.
- Soon after the inauguration, the representatives of several national and international organisations participated in panel discussions on different topics, and delegates could be seen rushing from one hall to another at the venue, trying to take in as much as possible.
- The NaMo merchandise stall in the premise too proved to be quite an attraction, and delegates could be seen surfing through the items like T-shirts, jackets and mugs.