While the move may give a competitive edge over rivals like Bangladesh in the global market, several industry bodies raised concerns that many state governments may not implement it on the ground.
The Gulf Cooperation Council (GCC) countries and India are expected conclude a free trade agreement for boosting trade within a year, K K M Kutty, former chairman of industry chamber CII (southern region), has said.
R Parasu Raman, chairman, CII -- southern region and chairman and managing director, Novar India Ltd, speaks to Shobha Warrier on the Budget.
A low EDI has a direct correlation with low-skilled employment. Manifestation of the low index is also evident in the low enrolment and high dropout profiles of students in northern states.
The Union tourism ministry has approved 51 hotel projects in South India, according to a Confederation of Indian Industry report.
Said CII southern region chairman P K Mohapatra, "Though the construction industry employs about 31 million people, second only to the agriculture sector, the workforce requirement is about 5 million people every year over the next seven years to eight years to sustain the present 8 per cent growth rate."
"Foreign Direct Investment (FDI) will bring along backward integration and investment in farm to fork. States like Karnataka, Andhra Pradesh, Tamil Nadu will be able to move produce more efficiently across the country", Confederation of Indian Industry (Southern Region) Chairman T T Ashok said in a statement.
He says conditions for entrepreneurship and SMEs needed to be improved for the sake of growth in economy and employment opportunities.
In a first step towards succession plan, Chennai-based fast-moving consumer goods (FMCG) major CavinKare on Monday announced the restructuring of its businesses and also roped in the generation next giving charges of separate business verticals. Announcing the restructuring on Monday, CK Ranganathan, chairman and managing director of CavinKare indicated that the business will be split into mainly four different streams - FMCG, ecommerce, retail and research and development.
Andhra Pradesh ranked No.1 with regard to the total number of investments made in textile projects this year, a study conducted by Confederation of Indian Industry-Southern region said.
B V Naidu, Director of STPI Bangalore, on Wednesday said that in the last five months 82 firms have come to Bangalore and the value of investment has touched around Rs 700 crore.
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