Assocham working with govt to simplify compliance, attract foreign capital: Minda

New Delhi, Oct 17 (PTI) Assocham President Nirmal Kumar Minda on Friday said the industry chamber is working with the government through high-level committees to build a trust-based regulatory framework, simplify compliance, and attract foreign capital to boost job creation and innovation.

He said that Assocham is engaged with ministries like renewable energy, defence, roads and highways and corporate affairs to strengthen supply chains, attract investments under production-linked incentives, and set global benchmarks in quality and boost manufacturing.

"Assocham is working with governments through high-level committees, including the Non-Financial Regulatory Reforms group and the Cabinet Secretariat's Deregulation Task Force, to build a trust-based regulatory framework, simplify compliance, improve infrastructure readiness, create plug-and-play industrial zones and encourage foreign capital, that will power jobs and innovation," he said.

Minda was speaking at the chamber's annual general meeting here. Minda took over the charge of Assocham's new President on Friday.

He added that the industry chamber will continue to work to ensure that MSMEs are globally competitive, digitally empowered and future-ready as they are the backbone of the country's economy.

Assocham, he said, will also work to strengthen digital infrastructure, ensure cybersecurity and equip the country's workforce with the skills they need so that India becomes a leader in the digital age.

"We have identified five key growth pillars, as part of Economic Reforms 2.0," he said, adding these pillars include make in India, ease of doing business, MSME growth, digital economy, and sustainability. PTI RR HVA