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Several countries seek to withdraw investments from China. But has India taken the right steps to leverage the advantage that is on offer? Not necessarily. Some states have gone ahead with the suspension of certain labour laws to become attractive for investments. But are labour laws the primary inhibiting factor in promoting investment? (Ironically, the states are now competing with each other in the retrograde step of reserving jobs for the 鈥榣ocals鈥�).

Anil Swarup has served as the head of the Project Monitoring Group (PMG), which is currently under the Prime Minister鈥檚 Office. He has also served as Secretary, Ministry of Coal, and Secretary, Ministry of School Education. In this piece, Swarup argues why the PMG must be revived. The steps that the RBI took post-pandemic are limited to creating additional liquidity that need not necessarily lead to investments. That situation is likely to exacerbate on the back of Covid. That is why, Swarup posits, five steps are needed to resolve the impending situation and provide a much-needed comfort to investors.