India's RE capacity registers 14.2% Year-on-Year growth (See 'Corp Brief') 'Bharat 6G Vision' envisages India to be frontline technology developer (See 'Corp Brief') SARFAESI Act - Petitioner Bank has created charge prior in point of time and charge created by respondent would not survive : HC (See 'Legal Desk') India takes lead to preserve Global Maritime Legacy (See 'Corp Brief') India has doubled power generation through Nuclear Energy: MoS (See 'Corp Brief') RTI - Once information is given, applicant can not seek same once again in guise of different form or language : SEBI (See 'Legal Desk') CCI approves the acquisition of equity in India Business Excellence Fund - IV by VVDN Technologies (See 'Corp Brief') CCI approves acquisition of Covestro AG by Abu Dhabi National Oil Co (See 'Corp Brief') CCI okays stake in Bagmane Developers by BREP Asia III India Holding (See 'Corp Brief') Arbitration Act - With consent of parties, Sole Arbitrator can be appointed as petitioner has given NOC to respondent with regard to claims which are sought to be agitated: HC (See 'Legal Desk') CCI nod for acquisition of Thyssenkrupp Electrical Steel India by Jsquare Electrical (See 'Corp Brief') MoEFCC facilitates Agreements to Advance Circular Economy (See 'Corp Brief') 6 new urea units have been set up under New Investment Policy: MoS (See 'Corp Brief') Misc - Providing information which would disproportionately divert resources of public authority or would be detrimental to safety/ preservation of record in question, would dissolve purpose of RTI: IBBI (See 'Legal Desk') Pharmaceuticals & Medical Devices Bureau has partnered to open Jan Aushadhi Kendras (See 'Corp Brief') Digital India has laid foundation for knowledge-based economy: MoS (See 'Corp Brief') SEBI Act-Shares held in demat account are property within purview of Article 300A : HC (See 'Legal Desk') Naidu oversees first Validation flight landing at Jewar Airport (See 'Corp Brief') Misc - To bring home guilt of professional misconduct under Chartered Accountants Act, charges have to be proven beyond reasonable doubt: HC (See 'Legal Desk') RBI Dy Governor highlights critical role of IBC in improving quality of bank assets (See 'Corp Brief') India's Digital Revolution: Transforming Infrastructure, Governance, and Public Services (See 'Corp Brief') IBC - Asset deposited by corporate debtor in court prior to commencement of CIRP by way of security would continue to be asset of corporate debtor: HC (See 'Legal Desk') NMDFC and DICCI join hands to empower marginalized communities through entrepreneurship (See 'Corp Brief') PMLA -To establish offence under PMLA, ED must demonstrate that procurement of property as 'proceeds of crime' are derived from criminal activity: HC (See 'Legal Desk') Copper Quality Control Order: A step towards Atma Nirbharta (See 'Corp Brief') Arbitration - Burden of proof to establish conduct of non-signatories during negatoation, execution & termination of contract, lies on party seeking to implead non-signatories to arbitration proceedings: HC (See 'Legal Desk') SECI wins PSU Transformation Award (See 'Corp Brief') Arbitration- Principle of consensus ad idem applies to non-signatory, who is sought to be made party in arbitration proceedings, making his consent mandatory for appointment of arbitrator: HC (See 'Legal Desk') India, ADB sign USD 50 mn loan for water harvesting in Meghalaya (See 'Corp Brief') IBC - Corporate debtor's liquidation value cannot be questioned if based on relevant material placed on record: SC (See 'Legal Desk') IWAI organizes a workshop on Inland Vessels Act, Rules and Central Database (See 'Corp Brief') PMLA - Apex Court grants bail to accused in relation to money laundering case connected to Mahadev Betting Scandal: SC (See 'Legal Desk') Over 1.52 Cr citizens served since launch of POPSKs in 2017 (See 'Corp Brief') A&C - Awarding damages by Arbitrator in absence of proven injury or loss qualifies to be patent illegality u/s 34 of Arbitration Act: HC (See 'Legal Desk') Challenge to an arbitral award as being in conflict with 'public policy' (See CORP EINSICHT)

Goyal launches CII's Ease of Doing Business and Regulatory Affairs Portal

Published: Nov 29, 2024

By TIOLCorplaws News Service

NEW DELHI, NOV 29, 2024: UNION Commerce and Industry Minister Piyush Goyal yesterday launched the CII Ease of Doing Business (EoDB) and Regulatory Affairs portal for getting insights into India's business environment and to receive and track suggestions for improvement. The portal was launched at the 2nd Department for Promotion of Industry and Internal Trade (DPIIT) - Confederation of Indian Industry (CII) National Conference on Ease of Doing Business today in New Delhi. The portal attempts to provide status and updates on key initiatives on Ease of Doing Business by both the government and CII. With a dedicated member dashboard, users can track progress and submissions on a real-time basis ensuring transparency, accountability, meaningful and timely resolution of concerns.

Speaking on the occasion, Goyal said that the Union government believes in cooperative federalism and is trying to make life better and easier for the businesses and the citizens. He appealed to the participants from industry and state governments to be open to new ideas of working, noting that a change of mindset and to be willing to accept ideas has a snowballing multiplier effect on businesses.

The Minister reiterated that the Government's National Single Window System (NSWS) guide for investors to identify and to apply for approvals as per their business requirements needs inputs from the industry. Unless the industry is engaging with the National Single Window System, getting licenses through it, and also providing inputs to the Centre on it and industrial land bank to make it better, the initiative will not succeed, he added.

On Jan Vishwas 2.0 Bill, the Minister said that the Government is actively looking to decriminalise 300 more laws. He urged CII to sensitise its members to begin respecting the spirit of the law, and highlighted that tendency to make profits by exploiting legal loopholes is detrimental to the economy and Ease of Doing Business.

Goyal pointed out that technological upgradation in State and Central-level government portals is required to make them more agile, faster, smarter and modern. He also spoke on the need to clamp down on spreading of misinformation and urged the industry to recognise the problems areas and make simple changes that can have pan-India impact.

Goyal urged stakeholders present at the event to work at three times the speed, three times harder and get three times more output to make India the third largest economy in the next three years. Elaborating further on the power of three, he pointed out that the power of the Government, the industry bodies and the stakeholders converging together can make a difference in business and legal processes. Emphasising on the importance of feedback for further improvement, he said that the synergy between the Government and the stakeholders will have a positive impact on Ease of Doing Business. Urging the participants to build up the momentum for change, he noted that if the States, Centre, local bodies and the industry work together the country will have transformational results.

Goyal suggested that CII should come up with a tangible, time-bound action plan and engage with industries to start making a commitment to give preferences to Indian businesses for economic progress. He expressed hope that the industry body would play the role of a bridge between the stakeholders and the Government in easing regulations and expanding businesses.

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