Private capital expenditure expected to spike amid rising external challenges: CII
The survey revealed that 59% of respondents anticipate an increase in private capital expenditure during April-September compared to the previous six months.
The government is considering a proposal to give preference to domestic manufacturing in public procurement, Department of Industrial Policy and Promotion Secretary Ramesh Abhishek said on Saturday.
"The government is considering a proposal to give preference to domestic manufacturing in public procurement. The Make in India Campaign has propelled significant changes in policies to strengthen the manufacturing sector," he said at the annual session of industry body Confederation of Indian Industry (CII).
Abhishek said that the government is working on policies that include simplification of procedures and processes through ease of doing business, liberalising foreign direct investment, dismantling the Foreign Investment Promotion Board and reform in public procurement.
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He further noted that an investment facilitation agency is working on investments of over $70 billion during the year, which will synergise investment promotion events at the state level for better results.
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