Suresh Prabhakar Prabhu pats AP for simplifying investment procedures

Visakhapatnam: Union Minister of Commerce and Industry Suresh Prabhakar Prabhu suggested to the government and agencies to change the theme “Ease of Doing Business” as “Please of Doing Business”.  It was critical that the entrepreneurial ecosystem in the country was “nurtured and allowed to flourish, the minister said.

Suresh Prabhu, while addressing the session on “The reform calculus: Promoting ease of doing business” at the CII Partnership Summit on Sunday said that dynamic Chief Ministers like N Chandrababu Naidu have made his job very easy. He said that Andhra Pradesh not only made investment procedures totally transparent, but also offered customised solutions to individual businesses bringing about a paradigm shift from the earlier practices. 

Chief Minister N Chandrababu Naidu said that Andhra Pradesh was very keen and working with strategic plans with an ultimate goal to place Andhra Pradesh among top five investment destinations globally by 2050. “I am benchmarking my goals with the top countries of the world in the ease of doing business rankings. Already 30 per cent of business proposals are given approvals on the spot and the rest of the 70 per cent will be cleared in the next 21 days,” Chandrababu Naidu said.

CII President Shobhana Kamineni said that while the ease of doing business was important and critical, it was time that the Indian industry “doubled down” on the business of doing business. She said that the Indian industry bodies should come together and raise their voice to enable the growth and development of Indian business. The CII President also pointed to the criticality of ensuring that the parameters of measuring ease of doing business should also include the criteria of friendliness of government policies towards the growth of MSMEs.

Sameer Garde, President-India & SAARC, Cisco Systems, Phil Shaw, Chief Executive-India, Lockheed Martin, Myron Brilliant, Executive Vice President and Head of International Affairs, USIBC US Chamber of Commerce also spoke. The session concluded with the inauguration of plaques signifying the foundation for setting up an Indian Institute of Foreign Trade and Indian Institute of Packaging campus in Kakinada.