The idea of the Indian prime minister, the outgoing Manmohan Singh, to restart the economy was a good one. The initiative launched six months ago aimed at pulling many investment projects stranded in the depths of Indian statism out of the depths of bureaucracy. The snares and snares of the subcontinent rival those of Italy in the power to smother investments large and small with compliance. Singh had created a CCI (Cabinet Committee for Investments) aimed at identifying projects that could be started but unable to take off due to bureaucracy, and a PMG (Project Monitoring Group) which had the power to intervene and cut the Gordian knots of the procedures more or less vexatious. At the end of 2013 the balance is positive.
Especially in the field of investments in power plants (where it takes more than a hundred permits to start) many projects have been pulled from the shoals. But many others still await, and among these is the largest foreign investment in the history of the country, a large steel plant promoted by Posco. The president of the Confederation of Indian Industry, S Gopalakrishnan , has asked the government to lower the intervention threshold to take advantage of the PMG 'reliefs', from 10 to 5 billion rupees (from 120 to 60 million euros).
Attachments: The Economic Times article
