New reforms have been suggested to initiate Electronics Manufacturing, on which NITI Aayog has made several suggestions, specifically related to the special coastal zone and tax breaks. These reforms have been suggested by the government, with a view to get hold of the electronics markets with China.
NITI Aayog thus, questions over the new policy formulation or shift. It argues that there should be an import substitution and that the strategy must an export oriented one.
It further suggests that the CEZ must be established under the Sagarmala project. Further, flexible land acquisition, international standard infrastructure plus labour laws must be present to kick-start the sector.
A massive tax break has been recommended for the companies that create big employment opportunities and make huge investments.
Modification in the market access policy has been suggested by NITI Aayog for import substitution. This will pave way for preference in government procurement, as per the strategy paper.
It is said that the Chinese model has been completely analyzed by the policy organization and an unusual opportunity is found to be in the hands of India.
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