Modi's 'Make in India' drive skids on red tape
Recent mine closures highlight bureaucratic obstacles to PM's push to turn nation into global manufacturing hub
New Delhi
PRIME Minister Narendra Modi is seeking to turn India into a global manufacturing hub by curbing red tape. Tell that to Tata Steel Ltd, which closed one of its largest iron-ore mines in September over permit delays.
India's largest maker of the alloy isn't alone. Steel Authority of India Ltd shut one of its top-yielding quarries the same month pending renewal of its lease. JSW Steel Ltd's plan to start mining in eastern Jharkhand state has been hampered by a probe begun last month into mine allocations.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Vietnam tycoon appeals against US$27 billion fraud death sentence
US announces new restrictions on firearm exports
Central banks will probably only cut half as much as they hiked
US consumer sentiment falls as inflation expectations climb
HSBC wins £1.3 billion suit over Disney film finance scandal
WTO countries to reboot dispute reform negotiations