Govt focussed on ease of doing business: TVS chief

India is reinforcing its strength as a manufacturing hub with the Centre launching second generation reforms focussed on ease of doing business, according to Venu Srinivasan, Chairman and Managing Director, TVS Motors.

Addressing the annual regional meet of the Indo-German Chamber of Commerce on Monday here, Srinivasan said the Central government has signalled its intentions to speed up clearances, remove bottlenecks, enact labour law reforms and boost infrastructure development. Tamil Nadu is among the top six performing States with inherent strengths in a wide range of sectors particularly manufacturing and pharma exports.

Local tie-ups While big companies such as automobile makers can come in alone into India, small- and medium-sector players will need to partner with someone who knows the local market and conditions, he said. But for a partnership to endure “there has to be a viable economic reason.” The relationship should be complementary with each partner bringing in clearly defined value to the deal either in the form of technology, funding or market access and global reach for mutual benefit, he said.

The business partners should also agree ahead ‘who gets what’ in case they need to separate.

Specific policies Tamil Nadu Industries Secretary, CV Sankar, said Tamil Nadu’s GSDP is the second largest in India after Maharashtra and the State is the third biggest destination for foreign investments and is among the top three exporters. It has announced sector-specific policies to encourage various segments of the industry.