Kolkata: The ministry of corporate affairs has initiated discussions with global consultancy major Dun & Bradstreet for developing a business index for industry. Dun & Bradstreet has already given a presentation in this regard. Besides, the ministry is working on a master plan for hassle-free business environment.
M Veerappa Moily said that the business index is aimed at assessing the competitiveness of Indian industry vis-a-vis other countries. He was talking to reporters on the sidelines of a seminar on 'Policy Initiatives of MCA to Empower Corporate Growth' organized by MCC Chamber of Commerce.
"There is a negative perception about our economy in India but not abroad. We have spoken to big consultancy firms and they are really bullish about us. So, we are working on business index. Why should we go by perceptions. There is a need to know the reality," he said. According to him, corporate affairs ministry will be ready with a master plan for better business environment in next one month. "We shall talk to other ministries like finance, commerce and law once we develop the master plan. We want to simplify issues like foreign investment promotion board clearances, prune obstacles for industry, simplify procedure for revival of sick units etc," he added.
The corporate affairs minister was confident that Indian economy will be back on track in next 2-3 months. "As per a latest report, India is the third most preferred destination for investment, so our future is quite bright," he added. Commenting on the delay in implementing IFRS, Moily pointed out that even US has not yet implemented.
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