CNBC-TV18's special show Restarting India focuses on the manufacturing sector which has been struggling for traction in a weak economic environment, further exacerbated by the COVID-19 pandemic.
According to the industry, the biggest obstacle for the Indian manufacturing sector is the higher cost of doing business; the factors of production - land, logistics, capital and power are several times more expensive in India than most of its competitors. Without a reduction in the cost of doing business, programmes, like Make in India, self-reliance and import substitution, can only see limited success.
A lot of stress has been laid on the ease of doing business, while the cost of doing business has remained unattended. So how should the policy be looked at for the sector to become an engine of growth for India?
To discuss this, Shereen Bhan spoke to RC Bhargava Chairman of Maruti Suzuki, R Mukundan CEO & MD of Tata Chemicals, Chairman of Institute of Quality Control at CII, and Sumant Sinha CMD of ReNew Power, Chairman-Renewable Energy Council at CII.Watch the video for more