Government needs land, labour reform to aid manufacturing, says chief economic adviser
Updated : March 04, 2019 07:49 PM IST
Several business leaders said a delay in land acquisition for private factories, decades-old restrictive labour laws and higher borrowing costs discourage many investors who therefore prefer to build new plants in countries like Vietnam, Thailand, and Bangladesh.
The share of manufacturing in the economy has grown just 1.5 percentage points in the last three years to 18 percent, and good exports have shown little sign of a pick up in the last five years.
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