Tuesday, November 25, 2014

Lok Satta Chief: Power Crisis Driving Entrepreneurs Away

Electricity, land acquisition and labour laws are the three factors that are forcing the entrepreneurs to move to other states from Andhra Pradesh and Telangana to pursue business, observed Jaya Prakash Narayan, president, Lok Satta.

He was delivering a talk on ‘Thought Leaders - An Indian Entrepreneur’s Way Forward’ organized by FAPCCI Women in Business (FWB). He particularly focused on the hurdles faced by the entrepreneurs in  TS and AP. “One of the key factors is lack of power. Many industries in the State are shutting down due to the shortage of power. Hence, there is a need for an electricity grid exclusively for the industrial activity,” he suggested.

Referring to a recent survey on the entrepreneurs, Jaya Prakash said that India is by far the toughest country for entrepreneur to set up their business.

“As many as 24% of the entrepreneurs have revealed that they have faced severe difficulties in registering for a business,” he said, further adding,

“Fortysix per cent people have revealed that they were troubled for a tax approval while 80% have claimed that getting environmental clearance was a major hurdle. These are only a few of the many factors that are driving the businessmen away from the states and the country all together,” he expressed.

He commented that social factors like caste, religion, region and language have created a bias and are interfering with creation of business in the two states. “A wealth creator does not look at any of these elements as it only creates a hurdle to them,” he added.

Jayesh Ranjan, Managing Director of Telangana State Industrial Infrastructure Corporation, who was also one of the speakers at the event, spoke on the different steps the state government plans to take in future to lure more entrepreneurs into the State.

Courtesy: The New Indian Express

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