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India and the Knowledge Economy: Leveraging Strengths and Opportunities

India and the Knowledge Economy: Leveraging Strengths and Opportunities. Prioritising key Issues in the Economic and Institutional Regime November 9 2004 New Delhi. Economic and Institutional Regime. List Key issues Categorise : Priority Missing?. Positives Local Competition Neutral

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India and the Knowledge Economy: Leveraging Strengths and Opportunities

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  1. India and the Knowledge Economy: Leveraging Strengths and Opportunities Prioritising key Issues in the Economic and Institutional Regime November 9 2004 New Delhi

  2. Economic and Institutional Regime List Key issues Categorise : Priority Missing?

  3. Positives Local Competition Neutral Press Freedom Gross Capital Formation Regulation of Financial Institutions Soundness of Banks IPR Negatives Budget does not balance Trade as % of GDP Tariff and Non Tariff Barriers Economic and Institutional Regime : List

  4. Economic and Institutional Regime: List • Fiscal Position • Productivity of Public Sector • Lackluster Performance of Civil Service • FDI limits • Low Global integration • Slow down in Industry and Services • Untapped role of Diaspora • Conducive Investment Climate • Cost of Doing Business in India • Slow legal system

  5. Economic and Institutional Regime : List • Reduce and Simplify Tariff • Eliminate Preferential policy for SSI • VAT • Phase out FDI restrictions • Improve IPR • Reduce/Remove restrictions on Labour • Credit to SME’s / Venture Capital • Bankruptcy laws • Land reform • Customs • Power sector reforms • Transport Sector reforms • Use of ICT to improve Government performance

  6. Economic and Institutional Regime : Top 7 • Fiscal System : Deficits • Infrastructure • Conducive Investment Climate • Speed Legal Process • Unified Taxation policy – VAT / GST • Use of ICT • Reduce and Simplify Tariff

  7. Economic and Institutional Regime :Infrastructure • Integrated approach : Energy vs Power • Plan for 25 years ahead • Regulatory Framework • End to end solution : Transportation :Raw Material to Factory and Factory to Market • Tariff Reform to enable sustainability

  8. Economic and Institutional Regime :Conducive Investment Climate • Simplify Business Processes • Integrate Market • Uniform processes : Use ICT • Uniform Laws • Uniform regulations and standards • Review Acts • Start with Sectors of Common interest to State : Food Processing Bio Technology Transport

  9. Economic and Institutional Regime :Speed Legal Process • Review CPC, CrPC • Introduce Standard time Bound Procedures • Filing • Evidence • Arguments • Judgment • Appeal • Penalties • Use ICT in Courts

  10. Economic and Institutional Regime : Unified Taxation policy – VAT / GST • VAT a good first step but GST? • Review local taxes if not eliminate rationalise and equate : Uniform one market ?

  11. Economic and Institutional Regime : Use of ICT • Leverage Work done • Standardise use formats that have worked • Enforce Standards • Election Commission • Move to Outsourcing ?

  12. Economic and Institutional Regime: Difficult Issues • Work with NGOs, Associations • Create Documents • Provide Forums • Develop an agreed agenda for India • Influence Change

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