The Indian government is genuinely working to create a true Single Window System, which is completely digital and provides for unified and integrated business procedures, said Piyush Goyal, Union Minister of Commerce and Industry, here on Thursday.
“The government is genuinely working to create a true Single Window System, which is completely digital and provides for unified and integrated business procedures. In addition, we will also encourage risk-based self-regulation and third party certifications”, said Goyal.
He was speaking at the inaugural session of National Digital Conference on ‘Easing Doing Business for Atmanirbhar Bharat’ organised by Confederation of Indian Industry (CII) in partnership with the Department for Promotion of Investment and Internal Trade (DPIIT).
Goyal added that regulatory and policy stability is important for doing business and the government is committed towards it.
According to a statement from CII, the minister highlighted that the confluence of ease of doing business, digitisation and Atmanirbhar Bharat can truly be the defining moment for India.
Goyal stressed that Atmanirbhar Bharat is not about closing doors but opening up and greater global engagement but from a position of strength and fair practices.
The statement said, “Alluding to the nascent signs of recovery being visible on the horizon currently, he highlighted that our services sector has been very resilient even in the face of the duress faced due to COVID-19. Any temporary restrictions placed in the face of COVID-19 have now been removed.”
“Government stands shoulder to shoulder with the industry for supporting them in these times of crisis. Decriminalisation of laws, removing regulatory policy hurdles are some of the measures on the anvil,” the press statement read.
Elaborating on the government measures for implementing factors of production reforms, Goyal remarked that the government will be soon doing a soft launch of Land Bank Portal, with six states on board, for which 5 lakh hectares of land has already been identified.
“This will allow online viewing of land available for industry, from their distant offices, precluding the need for frequently visiting the offices of land-owning agencies,” the statement said.
“Government is also looking for onboarding more states for helping them ease their labour laws and compliances, on the lines of what has been done in Uttar Pradesh, where industry has been exempted from select labour laws for three years,” Goyal further added.
“Production-linked incentives are in pipeline for 12 major sectors like APIs and electronics. The government plans to expand the horizon to as many as 20 sectors”, underlined the minister.
He urged the industry to identify areas where policy stability is necessary for domestic industry and foreign investors. “Regulatory certainty and policy stability are very critical for businesses,” he added.
Responding to industry’s suggestion for broadening the Business Reform Action Plan to include factors such as access to finance, Goyal mentioned that improving the availability of long-term finance for the industry is one of the steps being taken by the government to promote investments.