Ease Of Doing Business: Goyal Focuses On Entrepreneurship And Reducing Burdensome Compliance

| Updated: 27 November, 2021 5:27 pm IST

NEW DELHI: Union Minister of Commerce and Industry Piyush Goyal on Saturday said the government’s aim has been to promote ease of doing business in the country by eliminating burdensome compliances and minimise the need for licensing and also rationalise the renewal process.

Speaking at the CII National Conference on Ease of Doing Business for Aatmanirbhar Bharat, Goyal said “I am very happy that CII has continued with this effort to bring focus on ease of doing business as India moves towards the next level of our growth imperative.”

As the prime minister often says, ease of doing business will lead to ease of living for the people of India.

While speaking about the National Startup Advisory Council (NSAC), Goyal said: “I give a lot of time to the startup advisory council and we have a free flowing discussion, very good ideas are brought to the table by different stakeholders in each of our meetings. Then the government or the departments work with different sections of the advisory council to implement some of the ideas and the decisions we take.

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NSAC was constituted in January this year by the Department for Promotion of Industry and Internal Trade (DPIIT) to drive sustainable economic growth and generate large scale employment opportunities in the country.

Goyal said that 5 I should be our benchmark to see whether we are making life easier for our business and our people. These are Intent, Inclusion, Innovation, Infrastructure and Investment.

Talking about entrepreneurship and startups, the minister said entrepreneurship is not only about a new entrepreneur making a new investment but within our corporation, how can we convert each of our team members into entrepreneurs in their area and empower them.

Today India means business and the world recognises that….This is the time for all of us to really go for it

Listed below are the 5 structural reforms for Ease of Doing Business the government is focusing on:

First, National Single Window System, a one-stop-shop for approvals & clearance needed by investors & businesses.
Second, Industrial Land Bank, a GIS-based portal, serving as a one-stop repository of all industrial infrastructure-related information to provide adequate information. We are looking at the availability of industrial land at affordable prices.
Third, Regulatory Compliance Portal, a real-time dashboard under direct monitoring of the Cabinet Secretary to track progress with self-regulation, self-certification and self-attestation to eliminate burdensome compliances & regulatory burden.
Fourth, State Reforms Action Plan (BRAP) to promote a healthy competition & cooperative federalism among states by working towards the digitization of procedures.
Fifth, #PMGatiShakti launched to build next-generation high-quality infrastructure based on our needs by providing multimodal connectivity & institutionalise holistic planning to ensure seamless connectivity by breaking departmental silos.

Govt. is focusing on 5 structural reforms for Ease of Doing Business –
First, National Single Window System, a one-stop-shop for approvals & clearance needed by investors & businesses: @PiyushGoyal

— Piyush Goyal Office (@PiyushGoyalOffc) November 27, 2021

Goyal also said that the industry and the government can engage together with the judiciary on issues like fast resolution of commercial disputes and capping adjournments. Members of industry body CII can engage some of the top lawyers and help the government understand what is feasible under the realm of India’s systems, he added.

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