MCCI Roadmap Seeks Better Regulatory Environment in TN - The New Indian Express

MCCI Roadmap Seeks Better Regulatory Environment in TN

Published: 21st February 2014 08:04 AM

Last Updated: 21st February 2014 08:04 AM

Tamil Nadu must improve the quality of regulatory environment to realise the growth envisioned in Vision 2023, according to the Madras Chamber of Commerce and Industry (MCCI).

In a report titled ‘Manufacturing in Tamil Nadu: A Regulatory Roadmap’ released by Arun Maira, member of the Planning Commission and received by T T Srinivasaraghavan, Managing Director of Sundaram Finance,  it was stated that flexibility in hiring labour for temporary work, challenges associated with complying with numerous provisions of the Factories Act, delays in obtaining construction permits and time taken to start a business and irritants faced in payment of taxes seem to be the major hurdles.

The study finds some of these irritants contributed in the downgrading of the State to second rank in 2011.

Presenting the key findings of the study, which was done by Athena Infonomics on behalf of MCCI, Deepak Karthikeyan, the Director of Athena Infonomics said the State must invest in creating a conducive ‘investment climate’ for business to achieve the targets set out in Vision 2023.

Stating that industries expend a considerable amount of time to comply with various inspections and approvals under different laws, she said a single business Act would go hand-in-hand with the concept of self-certification, where a pool of private agencies with experts in relevant fields will be accredited to inspect particular units and issue necessary certificates as required by law.

The study also stressed the need to revisit and simplify the Tamil Nadu Factories Rules 1950 so that only core provisions central to the health and the safety of labourers are enforced by the State.

The report also stressed the need for hiring people through fixed term contracts. It also called for the need to reduce human interface at check posts.

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