Unlocking ‘Viksit Bharat’: CII’s Reform Roadmap for GST, Trade, and Labour Changes Vital for India’s Growth

The Confederation of Indian Industry (CII) has proposed a bold new plan to boost India’s economy. Their report, titled “Policies for a Competitive India,” offers over 250 recommendations aimed at improving key areas like taxes, employment, and trade.

One major suggestion is to simplify the Goods and Services Tax (GST) by including sectors like petroleum and real estate. CII suggests we need a national policy for both traditional jobs and gig work, reflecting changing workplace dynamics. Rajiv Memani, CII President, highlighted that these proposals align with the government’s vision for major economic reforms.

The plan also emphasizes fiscal responsibility and managing inflation. It suggests privatizing non-essential public sector enterprises and creating a sovereign wealth fund. Sanjiv Bajaj, a former CII president, stressed the urgency of these reforms. He believes that as India aims for the world’s third-largest economy, it must act quickly to stay competitive.

On energy, CII wants to implement fair tariffs and enhance private investment in renewable sources, especially green hydrogen. They also recommend setting up commercial courts to resolve business disputes faster.

In the context of India’s growth, experts indicate that these changes can significantly impact employment and sustainability. Recent data suggests that India is becoming a global trading hub, necessitating policies that support this transition.

The overall aim is clear: place India on the path to becoming a developed nation. By implementing these recommendations, India could see enhanced economic growth and improved job creation, paving the way for a future aligned with its “Viksit Bharat” vision.



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