describe any three steps taken by central and state government to attract foriegn investment in India
Answers
In the recent years, the Indian Government has taken special steps to attract foreign companies to invest in India:
(i) The government has set up industrial zones called special Economic Zones (SEZs). SEZs provide world class facilities – electricity, water, roads, transport,storage recreational and educational facilities.
(ii) Companies who set up production units in the SEZs do not have to pay taxes for an initial period of five years.
In modern years, the Indian Government has taken appropriate measures to attract international companies to spend in India:
(i) The administration has installed up technical zones called Special Economic Zones (SEZs). SEZs contribute world-class amenities such as electricity, transport, water, roads, and storage recreational and institutional facilities.
(ii) Companies who incubated up production assemblies in the SEZs do not have to spend taxes for an introductory term of five years.
(iii) The administration has also provided versatility in the labor laws to entice foreign financing. The organizations can now decrease the number of workers for a short period when there is extreme pressure of work. This is accomplished to overcome the cost of labor for the companies.