Aggresive strategy by Haryana government! Why thousands of investors may pull out of China soon

After chalking out an aggressive strategy to woo investors/companies intending to either shift from China or set up new manufacturing facility in India, Haryana Chief Minister Manohar Lal Khattar on Saturday said that nearly 1,000 investors want to take their investments out of China and explore other destinations and said the state has got into touch with some of them.

"Coronavirus has spread in the entire world, it started from China, and the investors in China from various countries... (have) made up their mind to explore other destinations," Khattar said Saturday evening in a televised address to the people of the state about COVID-19 situation. "As per our information, 1,000 investors are those who want to take out their investments from China and go to other countries. We are in touch with them. Through video conferencing, we have talked to some of the investors." He said the investors from Japan, America, Korea, Germany, Australia, Taiwan want to come and invest in India.

'Ease of Doing Business'

Khattar said Haryana was offering a congenial atmosphere to such investors for investment. "In terms of 'Ease of Doing Business', we were at 16th spot in 2014 and now we are at 3rd position," he said.

As part of the state government's strategy to woo the investors, Principal Secretary to Chief Minister, Rajesh Khullar, held an open house with potential investors on May 6, 7 and 8 through video conferencing/webinars.

Strategy to create windows

The Haryana government has prepared a strategy to create windows in the existing state policies that would ensure quickly setting up manufacturing facilities in any industrial estate of the choice of investors wanting to shift base from China, the statement had said.

Earlier in the day, Khattar held a webinar with more than 100 representatives of MSMEs. The chief minister said he had assured them that the state government was with them in this hour of crisis, as the COVID-19 situation had in particular dealt a blow to the MSME sector.