“It is the combination of a change in developers’ mindset, real estate business practices and policy measures by the Union and State Governments that will facilitate the transition towards an import free construction and real estate industry,” says Real Estate Entrepreneur Laxman Jaiswal
“India cannot afford to remain dependent on Chinese imports. The reduction in imports and finding domestic alternatives is a path which must be treaded rationally and with a proper strategy. Otherwise, the cost of real estate projects and construction will shoot up abruptly. A facilitative policy regime, support to MSMEs and a change in the business mindset of the entire real estate industry is the way forward towards achieving an import neutral status.”
“I appeal to the Governments to install an ecosystem of traditionally based small /medium scale industries in place at reasonable price point and quantity, we as the developer community will be more than happy to be a part of it”
“The Real Estate must pledge towards procuring a certain percentage of building material from domestic sources and manufacturers only it will serve a greater purpose towards an independent industry, free from foreign capital and obligations. A domestic procurement approach will automatically reduce the cost of products made in India.”
The change in mindset can only be driven by policy incentives and rebates by the Government. Tax incentives and subsidies on domestic procurement above a certain threshold and GST discounts
A clarion call for “Made in India” in the way of life and business to manufacture such products locally, especially the ones which are currently being imported from China and support the Indian economy at large is the need of the hour, says Laxman Jaiswal Chairman & Managing Director of Ascon Infrastructure India Ltd which is into Infra, Housing, Artificial Intelligence, Textiles, Marble and Granite industries spread over West Bengal, Karnataka and Dubai.