Millennium Post

Centre, states must work more closely to pilot private investment: Sachin

Central and state governments should work closely to attract more private investments that would help in creating more jobs in the country, Corporate Affairs Minister Sachin Pilot said on Friday.

Emphasising the need for having economic growth that creates jobs, Pilot said the governments alone cannot provide employment to all young people in India.

'... we as government of India have to work very closely with state governments because in New Delhi, you can only do paper work and registration and the compliance (part)... The actual setting of shops happens in states, geographically they have to establish themselves there.

'Therefore, a close co-operation and of course good working relationship with many state governments is also required,' Pilot said here.

Admitting that there are impediments for investors, Pilot however asserted that government is making efforts to ensure that the path for investments is made as easy as possible.

'We as a nation must present a very warm, welcoming and comforting environment to companies that come to invest and create jobs in India,' he said.

Speaking at the Corporate Secretaries International Association's conference, Pilot also indicated that all regulators should work in cohesion.

'Ultimately, a company or investor that wants to set shop in this country, wants to make investments in the country does not really care for how many regulators we have or what are our inter disciplinary issues,' he said.

On the sidelines, Pilot said the panel, headed by former Sebi M Damodaran, looking into ways to improve the country's business climate is expected to be submit its report to the Ministry 'in the next few days'.

Regarding Congress Vice President Rahul Gandhi's speech to the industry leaders on Thursday, Pilot said it was 'inspirational'.

'He (Rahul Gandhi) broadly outlined the philosophy of the party and the work we have done and the challenges we face. He spoke very candidly, very openly and was able to really give a framework on how he thinks our society, our government and our corporate sector should work together...,' Pilot said.

'He (Rahul Gandhi) spoke about the aspirations of young India. What needs to be done to channelise the energy we have in the country. I think it was quite inspirational and audience appreciated the speech he made,' the Minister added.
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