NSIC pays dividend of Rs 44 crore to Government (See 'Corp Brief') Promotion of regional languages is equally vital along with Hindi: MoS (See 'Corp Brief') A&C - Attack on fundamental policy of Indian law allows for reappreciation of arbitral award and thereby, judgment could not be faulted with, on ground of having exceeded its jurisdiction u/s 37: SC (See 'Legal Desk') Raigad Fisheries Cluster emerging as Model for Integrated Value-Chain Development (See 'Corp Brief') A&C - Arbitration agreement remains valid even if appointment mechanism becomes inoperative due to statutory amendments: SC (See 'Legal Desk') SECL releases India Post Special Cover Commemorating Coal India's Golden Jubilee (See 'Corp Brief') Misc - If Court has mandated Defendants to deposit certain sum covering past sales with Registrar General within three months, in interest-bearing account, then failure to do so may trigger sales-ban application by Plaintiffs: HC (See 'Legal Desk') Vaishnaw reviews Railways Preparedness for Cyclone Montha (See 'Corp Brief') SEBI - Information relating to inspection reports/ concluding comments of stock exchanges and other documents concerning MIIs are 'information related to third parties': HC (See 'Legal Desk') National Biodiversity Authority released Rs 55 Lakh to farmers of Red Sanders in TN (See 'Corp Brief') Chouhan directs immediate filling of all vacant posts for better agricultural education (See 'Corp Brief') A&C - Contractual arbitration clauses that permit employee/ex-employee of public body to act as arbitrator must be read alongside neutrality and impartiality requirements and Article 14/19 of Constitution: HC (See 'Legal Desk') Department of Fisheries to impart Tuna Handling and Export Skills (See 'Corp Brief') Capital Market - If exemption granted is limited to requirements of making open offer under Takeover Regulations, it shall not be construed as exemption from disclosure requirements: SEBI (See 'Legal Desk') National Biodiversity Authority releases Rs 18.3 Lakh to Committees in UP and Sikkim (See 'Corp Brief') IBC - Section 16(2) of IBC clearly requires the IRP to be appointed as suggested by Financial Creditor or Corporate Debtor & such provision does not allow any deviation: HC (See 'Legal Desk') Kurian calls for active registration under NFDP (See 'Corp Brief') PMLA - Provisions of PMLA over other statutes related to property encumbrances; attachment of property is tenable where it is acquired through proceeds of crime: SAFEMA TRIBUNAL (See 'Legal Desk') DPIIT, Primus Partners Pvt. Ltd. ink MoU to bolster startup ecosystem (See 'Corp Brief') PBPT Act - a land sale is indeed a benami transaction, where payment is made by beneficial owner for future benefit of her family, while land is registered in name of somebody else: SAFEMA Tribunal (See 'Legal Desk') DPIIT, Kotak Mahindra Bank ink MoU to enhance financial & non-financial support for startups (See 'Corp Brief') IBC/RTI - CPIO not required to generate, interpret, or explain records; appeal against FAA's order is not tenable where all relevant information is provided: IBBI (See 'Legal Desk') Centre plans inspection drives and field verification to ensure compliance (See 'Corp Brief') India continues to rank 3rd in Annual Forest Gain (See 'Corp Brief') RERA - Promoters are mandatorily required to comply with statutory condition of pre-deposit u/s 43(5) of Real Estate (Regulation and Development) Act, 2016 before appeal can be entertained: HC (See 'Legal Desk') Government intervention and Corporate governance (See CORP EINSICHT)

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Single Window System working well to promote investment: MoS

Published: Aug 07, 2024

By TIOLCorplaws News Service

NEW DELHI, AUG 07, 2024: THE Government has taken several steps to boost investments and attract more industrial activities in the country. The Government of India, through Department for Promotion of Industry and Internal Trade (DPIIT) and other Central Ministries/ Departments, provides an enabling eco-system for the overall industrial development of the country through appropriate policy interventions. In addition to on-going schemes of other Ministries/ Departments, this Department has taken various steps for promotion and facilitation of  industries across States/UTs, which includes Andhra Pradesh, Maharashtra and Uttar Pradesh, such as Make in India, Start-up India, PM GatiShakti, National Industrial Corridor Programme, Production Linked Incentive (PLI) Scheme, promoting Ease of Doing Business (EoDB) and reducing compliance burden, National Single Window System (NSWS), India Industrial Land Bank, Project Monitoring Group (PMG), liberalization of FDI policy, Indian Footwear and Leather Development Programme (IFLDP) Scheme, etc. An institutional mechanism to fast-track investments has been put in place, in the form of Project Development Cells (PDCs), in all concerned Ministries/ Departments of Government of India.

In addition, the Government has implemented various measures to stimulate Foreign Direct Investment (FDI) inflows. The Government has put in place an investor friendly policy, wherein most sectors except certain strategically important sectors, are open for 100% FDI under the automatic route. Almost 90% of the FDI inflow is received under the automatic route. India continues to open up its economy to global investors by raising FDI limits, removing regulatory barriers, developing infrastructure and improving business environment.

The Government has taken initiatives to simplify, rationalize, digitize and decriminalize Government to Business (G2B) and Citizen Interface across all the States/UTs with the objective to improve Ease of Doing Business and Ease of Living. So far, more than 42,000 compliances have been reduced and more than 3,800 provisions have been decriminalized. Jan Vishwas (Amendment of Provisions) Act, 2023 was introduced to further the trust-based governance and enable de-criminalization of minor offences and compliance-based laws and requirements. The Act decriminalized 183 provisions under 42 Acts administered by 19 Ministries/Departments. India ranks 63 rd in the World Bank's Doing Business Report (DBR), 2020 published in October, 2019. India's rank in the DBR improved from 142nd in 2014 to 63rd in 2019, registering a jump of 79 ranks in a span of 5 years.

The Department for Promotion of Industry and Internal Trade (DPIIT) has developed the National Single Window System (NSWS) portal as a one-stop for taking all the regulatory approvals and services in the country. NSWS platform aims to streamline the G2B ecosystems and further promote ease of doing business in India. The platform promotes Accountability, Information Symmetry and Transparency within the G2B ecosystem by providing a national portal, PAN based verification and registration and access to more than 270+ G2B services at the central level. Thus, it also eliminates the need for multiple interfaces and registrations for businesses to avail requisite G2B services. The national portal integrates the existing clearance systems of the various Ministries/ Departments of Govt. of India and State Governments. Currently, approvals of 32 Central Ministries/ Departments and 28 States/UTs Single Window Systems have been integrated with the NSWS Portal. A total of 277 Central approvals and 2,977 state approvals can be applied through NSWS. Information pertaining to 653 central approvals and 6,198 state approvals are available to businesses via the Know Your Approval (KYA) module of NSWS.

This information has been provided by the Union Minister of State for Commerce and Industry, Jitin Prasada in a written reply in the Lok Sabha yesterday.

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