Our long-term planning has 20-25 years' perspective: Sitharaman

Ten years from now will see India become a manufacturing hub, with democracy and rule of law i, she assuresn place

In making policies for economic reform, the government planners have a long-term perspective of 20-25 years while there are three- to five-year plan bands for each activity or department, Commerce Minister Nirmala Sitharaman said on Thursday.

"Overall, long-term planning is done for a 20-25 years time span, whereas with a revamped planning commission, there are five- or three-year plans for each activity," Sitharaman said at an event organised by the International Chamber of Commerce here.

She was replying to questions put by some international investors at the event about the need for a long-term policy - "10 years vision" - for industry that is insulated from changes that could occur in the country's political sphere.

"There is a general grouse that nothing is happening in Delhi... right now, we're doing the unglamorous work of undoing the earlier obstructions and consequences of laidback policy," Sitharaman said.

"With our efforts at public investment in infrastructure and power transmission, the private sector will follow suit and the next 10 years will see an India of industrial and freight corridors, numerous more ports with the ambitious Sagarmala project," the minister said.

"Ten years from now will see India become a manufacturing hub, with democracy and rule of law in place," she added.

Pointing to the changes in the ease of doing business in India, Sitharaman said: "As a regulator, the government has taken a step backwards, with things like self-registration. Online, paperless administration has cut down the earlier running from pillar to post to get things done."