India will offer land double to Luxemborg to firms moving to India.


India being a developing nation and with the availability of trained and untrained labor, is already a major attraction for international investments. The Indian government has now sought new ways to attract the companies moving out of China, amidst the coronavirus pandemic. The investors are seeking to reduce reliance on China as a manufacturing base after the Coronavirus crisis that lead to disruption in the supply chain.
It is developing a land pool that is nearly double the size of Luxembourg for the purpose. A total area of 461,589 hectares has been identified across the domestic boundary of the Indian subcontinent which includes 115,131 hectares of existing industrial land in states such as Gujrat, Maharashtra, Tamil Nadu, and Andhra Pradesh. Whereas Luxembourg covers an area of 243,000 hectares.

Until now, the country has been quite resistant in providing lands to companies looking to invest in India while Prime Minister Narendra Modi is now working with the state governments to come up with a solution to this problem. He also conducted a meeting with other state ministers of the country to collect their views. Providing land with adequate water, electricity, and road access would probably attract more and more investors to the Indian economy. The Indian economy was already expecting a recession before the virus outbreak and now is staying at a rare contraction after the nationwide lockdown. Making barren land a part of special economic zones is also a part of the proposal.

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