Ease of Doing Business Still a Long Way for Bottom-Up Growth: Hiranandani
The journey towards making business easier in India, especially at the grassroots level, is far from over, as highlighted by Niranjan Hiranandani, a prominent figure in the real estate sector.
Real EstateSmesEconomic GrowthInfrastructureInnovationReal EstateFeb 23, 2025
Hiranandani, a well-known figure in the real estate sector and co-founder of the Mahindra Lifespace Developers, emphasizes the need for comprehensive reforms to empower small and medium enterprises (SMEs) and foster a more inclusive business environment.
Information
Niranjan Hiranandani is a renowned entrepreneur and a key player in the Indian real estate market.
He co-founded Mahindra Lifespace Developers, a leading name in sustainable and integrated townships.
Hiranandani has been vocal about the need for policy reforms and infrastructure improvements to bolster the real estate and business sectors in India.
Challenges and Reforms
Despite several initiatives by the government, such as the 'Make in India' and 'Startup India' programs, the ease of doing business for SMEs and startups remains a significant challenge.
Hiranandani points out that while these programs are a step in the right direction, they often fail to address the grassroots issues faced by smaller enterprises.
One of the primary hurdles is the lack of access to capital.
Many small businesses struggle to secure adequate funding, which hampers their growth potential.
Hiranandani suggests that the government should introduce more flexible loan schemes and tax benefits to encourage investment in SMEs.
Another critical issue is the bureaucratic red tape and complex regulatory environment.
Small businesses often find it difficult to navigate the labyrinth of rules and regulations, leading to delays and increased operational costs.
Simplifying the regulatory framework and streamlining the approval processes can significantly ease the burden on these enterprises.
Infrastructure Development
Hiranandani also underscores the importance of infrastructure development in promoting a conducive business environment.
Adequate infrastructure, including transportation, power, and communication networks, is crucial for the smooth operation of businesses.
The government's focus on infrastructure projects, such as the 'National Infrastructure Pipeline (NIP)', is a positive step, but more needs to be done to ensure that these benefits reach the grassroots level.
Technology and Innovation
Embracing technology and innovation is another key area that Hiranandani believes can drive bottom-up growth.
The integration of digital technologies can enhance efficiency, reduce costs, and open up new market opportunities for SMEs.
The government and private sector should collaborate to create a supportive ecosystem that fosters innovation and technological adoption.
Conclusion
While significant progress has been made, the journey towards creating a truly inclusive and business-friendly environment in India is far from over.
Niranjan Hiranandani's insights highlight the need for targeted reforms, improved access to capital, streamlined regulatory processes, robust infrastructure, and a strong focus on technology and innovation.
By addressing these challenges, India can pave the way for sustainable and inclusive economic growth, driving prosperity at all levels of society.
Frequently Asked Questions
What are the main challenges faced by SMEs in India?
The main challenges faced by SMEs in India include lack of access to capital, complex regulatory environment, and infrastructure gaps.
Why is infrastructure development crucial for bottom-up growth?
Adequate infrastructure, including transportation, power, and communication networks, is essential for the smooth operation of businesses, especially at the grassroots level.
How can technology and innovation drive bottom-up growth?
The integration of digital technologies can enhance efficiency, reduce costs, and open up new market opportunities for SMEs, driving bottom-up growth.
What is the role of the government in easing the business environment for SMEs?
The government can play a crucial role by introducing more flexible loan schemes, tax benefits, and streamlining the regulatory framework to ease the business environment for SMEs.
What initiatives has the Indian government taken to support SMEs?
The Indian government has launched several initiatives such as the 'Make in India' and 'Startup India' programs to support SMEs, but more targeted reforms are needed to address grassroots issues.
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