CII Suggests Reforms in GST, Trade Policy, Employment to Achieve 'Viksit Bharat'

Industry lobby CII on Sunday unveiled a reform roadmap to accelerate India's economic transformation, pitching for a simplified GST structure, expanded coverage to petroleum and real estate, rationalised tariff structure, national employment and gig economy policies.

The Confederation of Indian Industry (CII) in its report "Policies for a Competitive India", presents over 250 actionable recommendations across 14 critical reform areas.

Developed through wide-ranging consultations with industry leaders, economists, and policy experts, the blueprint is aligned with the government's Viksit Bharat vision, it said.

CII President Rajiv Memani said, "These recommendations are closely aligned with the government's reform trajectory and are in support of the Prime Minister's call for bold and transformative change. As a live document, policies for a Competitive India will continue to evolve, bringing fresh ideas to support policymakers." The reform areas include fiscal prudence, inflation management, and modernised statistical systems; privatisation of non-strategic PSEs, creation of a sovereign wealth fund; decriminalisation of minor violations, time-bound approvals, single-window clearances, and second-generation IBC reforms; streamlined labour codes, minimum wage framework, and fast-track dispute resolution.

The industry lobby has also recommended energy policy reforms, including competitive tariffs, elimination of cross-subsidisation, stronger transmission networks, private participation in nuclear energy, and a green hydrogen roadmap.

Besides, it calls for faster dispute resolution through expanded commercial courts, arbitration councils, and strengthened tribunal oversight.

Sanjiv Bajaj, Past President, CII and Chairman, Task Force on Reciprocal Tariffs, observed, "As India moves rapidly towards becoming the world's third-largest economy, it must now add greater pace and depth to this reform agenda to be globally competitive. With Free Trade Agreements opening new opportunities and India's economic engagements expanding worldwide, Indian industry must be prepared to compete with the best." Among other reforms, CII has suggested a dedicated e-commerce export strategy; manufacturing push through capital support, industrial corridors, and freight connectivity; phased compliance for MSMEs; and integration of industry into climate adaptation, digitised climate data, and sustainability-linked procurement.

Together, these reforms will drive growth, job creation, resilience, and sustainability -- ”positioning India to achieve its goal of Viksit Bharat and global leadership, CII said.