Manufacturing in India: Legal Perspective | FDI Attorney in Delhi NCR | FDI Attorney in India | India Business Entry

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With the advent of the “Make in India” initiative by the Modi government the Indian manufacturing sector has seen a revolution across all the industries and especially the industries and sectors which were more dependent on imports. Although manufacturing in India has its own issues with respect to the infrastructure and the workforce yet the same has its own set of advantages and the manufacturing sector in India has definitely a brighter side also. Few of the concrete changes which have been made by the Modi government in the manufacturing sector are:

1. Following the Policy of Ease of Doing Business
2. Improving Infrastructure
3. Development of more Special Economic Zones (SEZ) and Industrial Corridors across the country
4. Ramping up Digital India initiative
5. Startup India initiative
6. Make in India programme

 

It is not only the above set of changes which have been devised and are regularly being taken at a war footing, the Government of India has also come up with several guidelines and policies which not only promotes manufacturing in India but also supports their exports. The Government of India has carried out a series of amendments in the existing legal framework which includes the amendments in the legislations i.e. the Companies Act, the Land Acquisition Act, the Arbitration & Conciliation Act, the Insolvency & Bankruptcy Code, the Patent Rules etc while the judicial framework has also been revised with the setting up of new Courts & Tribunals like the National Company Law Tribunals (NCLT) respectively. The Indian regime is also in the process of revamping the antiquated Labour Laws of the country while make them more apt for the business environment. Having said that, the most important and the key feature of the Indian legal system is the protection of the data, Intellectual Properties (IP) and the privacy of not only the individuals but also the Corporates.

Thus, the manufacturing in India has the following inherent benefits i.e.
 Minimum Government Interference
 Government well compliant to International Covenants & Treaties
 Transparent Government Policies, Rules & Regulations
 Independent Legal System
 Protection of Data & Privacy
 Protection of Intellectual Properties (IP)
 Tax Benefits for Setting-up Manufacturing Units
 Benefits for Exporters

Thus, the manufacturers in India definitely have an advantage over its neighbouring countries. Furthermore, with the current situation where the entire world is struggling to combat the coronavirus pandemic, the handling of situation by the Government of India deserves applause. It is most imperative to mention in here that, the Indian manufacturing industries have successfully been able to turn around their manufacturing and are producing the PPE kits, ventilators, hazmat suits, masks, hand sanitizers, medicines and other essentials respectively. The manufacturing is being done to the extent that these essentials are being exported to different countries including UK & USA. The same clearly elucidates the turnaround period which the Indian Business Ecosystem requires to adapt and deliver with even the worst challenging situations.
Authored By: Adv. Anant Sharma