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Union Minister Nitin Gadkari Assures All Help to Investors for Moving Investment from China

File photo of Union minister Nitin Gadkari. (PTI)

File photo of Union minister Nitin Gadkari. (PTI)

Addressing the annual session of the Confederation of Indian Industry (CII), he urged large industries to clear outstanding payments owed to MSMEs in 45 days.

  • PTI
  • Last Updated: June 2, 2020, 9:37 PM IST
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Union Minister Nitin Gadkari on Tuesday assured investors, who wish to move their investment from China to India, to address their issues at central as well as state level and provide a business-friendly environment.

Terming the prevailing global sentiment related to China as a "blessing in disguise", the minister said he will monitor and also take up the requirements of such investors with states to create a friendly investment environment.

"I assure that if you bring ten such proposals, I shall take up to resolve their problems at the level of the central and state governments," said the minister, adding that red carpet treatment will be provided to investors.

Addressing the annual session of the Confederation of Indian Industry (CII), he urged large industries to clear outstanding payments owed to MSMEs in 45 days.

However, he acknowledged that dues of several large corporates are also stuck with public sector undertakings.

Responding to a question related to the hardships faced by migrant labour, Gadkari said, "Regarding the migrant labour, actually the impression which is created by media and other people that our industry is 100 per cent dependant upon migrant labour, but when I went into the details after that the information I received on the basis of that, somewhere it is 10-20 per cent".

He admitted that "there is a fear in the mind of the people that is the reason people are walking towards Patna and Lucknow and that is the reason, majority of the migrant labour from Bihar and UP, some of them are from parts in Maharashtra and Telangana, and some small parts of Madhya Pradesh".

The minister for MSME and Road Transport and Highways said the government will soon declare the Scrappage Policy which will "certainly impart relief to the automotive sector and reduce cost, enhancing competitiveness in international markets".

He highlighted the need to attract capital to increase liquidity in markets and emphasised that exports must be enhanced through innovation and technology upgradation.

Observing that NBFCs have an important role to play in attracting capital at low interest cost to boost FDI inflows and boost liquidity, Gadkari said the government was also making efforts to attract foreign investment into the country's infrastructure sector.

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