India must remove state-level bottlenecks and standardise stamp duty rates to achieve its goal of becoming a leading manufacturing hub, said industry body Confederation of Indian Industry (CII), while proposing ways to achieve Viksit Bharat 2047 goals.
Pitching for comprehensive land reforms, the industry body said on Sunday that an exclusive GST-like Council should be set up that helps coordinate consensus-based land reforms between the Centre and states to attract investment and promote ease of doing business.
“The global landscape is undergoing seminal transformations, and trade and investment patterns are being reshaped by factors beyond cost. India has long harboured the goal of becoming a leading global hub for manufacturing.
To successfully capitalise on these emerging opportunities and march towards the goal of Viksit Bharat by 2047, India must adopt a comprehensive and forward-looking competitiveness agenda, including factor market reforms such as land reforms,” said CII in a statement.
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Suggesting the setting up of a stable policy framework, the body said India should do away with the multiplicity of authorities involved in land-related processes at the state level, and instead establish ‘Integrated Land Authorities’ in each state that act as one-stop agencies overseeing allotments, conversions, dispute resolution, and zoning.
"Land governance in India lies largely within state jurisdiction, and the cross-cutting nature of land policy demands close cooperation between the Centre and states. CII recommends formation of a GST-like Council to enable coordinated and consensus-based land reforms," it stated.
While initiatives like the India Industrial Land Bank (IILB) are commendable, they too pose challenges, it added.
“Currently, IILB is largely an information tool. It needs to evolve into a true national land bank that integrates not only land information but also allots land across states through a single digital interface. This would improve transparency and simplify land in acquiring process for businesses,” the body said.
To overcome challenges of protectionism and trade wars, India should bank upon its strong industrial capabilities, large domestic market and a young workforce, coupled with its reputation as a trusted and capable partner among many nations, the CII said.
Additionally, a robust land reform strategy will not only boost India's manufacturing, but also improve investor confidence, unlock rural development potential, and drive inclusive growth.
Other measures suggested by the CII include complete digitisation of the conversion process using digitally-signed certificates and QR code-enabled third-party verification to ensure transparency and eliminate corruption.
It also observed that stamp duty rates in India were high and varied widely across states, bringing inconsistency that increases cost and unpredictability for investors.
These charges should be rationalised to a uniform range of 3 to 5 per cent across states to ensure standardisation while making transactions more affordable, the body said.
Lastly, it advised states to adopt a conclusive titling system that ensures clear ownership, thus significantly reducing litigation risks and unlocking land for investments.
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