Challenges ahead:

Difficult business environment, archaic laws and political or bureaucratic obstructions are a major downturn which has to be checked seriously. The legislative framework and legal obligations need to be closely monitored. Furthermore, the Intellectual Property Laws must be revamped according to the trend in business and innovation making it globally compliant. The challenge to create jobs must look into the MSME sector, keeping in mind the land acquisition and labour laws. The Confederation of India Industry is trying to simplify the environment, forest and wildlife clearances. GAAR and GST needs to be amended accordingly. Taxation needs to be clarified to retain the investor and attract bigger investments. World Bank has rightly quoted that education will be the key to success of Make in India campaign to make it a global manufacturing hub. [caption id="attachment_7065" align="aligncenter" width="621"] Left to Right: John G. Rice, vice-chairman, General Electric Co., Gautam Thapar, founder and chairman, Avantha Group, Ravi Uppal, MD and CEO, Jindal Steel and Power, Aditya Ghosh, president and executive director, Indigo, D. Shivakumar, chairman and CEO (India region), PepsiCo, Amitabh Kant, secretary, DIPP and Vipin Sondhi, MD and CEO, JCB India. Photos: Ramesh Pathania/Mint[/caption]