What is that one thing Indian policymakers and businesspersons never forget to talk about when they meet? – EASE OF DOING BUSINESS.
Why?
A complex business regulatory environment is well-known for punishing firms that attempt to grow and need flexibility.
As India ascends into the world economies and tries to set itself up as a global hub for manufacturing, it’s imperative to overhaul the entire business environment of the country, specifically the business regulations.
To date, the government has been successful in
- reducing 25,000 compliances and
- repealing 1486 union laws to make India a conducive business environment to attract investments.
As a step further, the Government of India launched National Single Window Clearance System(NSWS) for Business Approvals.
Suppose you are an investor or an entrepreneur looking for One-stop digital guidance to identify and apply for business approvals – in that case, NSWS is the platform for you.
The NSWS -Know Your Approvals (KYA) module currently supports information across 32 Central Departments and 17 States. Along with information, the portal will enable you to apply for all your business-related approvals from
- 24 Central Depts
- 16 State Governments.
By answering a few questionnaires about your proposed business activities, investors and entrepreneurs can get an indicative list of relevant approvals for your business based on your input.
How does it work?
- Answer a set of questions to know the approvals pertinent to your business
- Apply for business approvals through a single interface
- Track the status of your application in real-time
National Single Window System is designed to
- eliminate the overlapping compliances via standardization
- Digitization of manual processes
- Integrating central and state-level systems is a single access point to business approvals.
This is a good step in the right direction to achieve minimum government and maximum governance.
Let’s see how it evolves further.
source :
- https://www.investindia.gov.in/team-india-blogs/budget-2022-ease-doing-business-20
- https://www.nsws.gov.in/
