INDIA COMMITTED TO ATTAIN EASE OF DOING BUSINESS INDEX AT 50 IN NEXT 3 YRS: SECRETARY, DIPP

INDIA COMMITTED TO ATTAIN EASE OF DOING BUSINESS INDEX AT 50 IN NEXT 3 YRS: SECRETARY, DIPP

INDIA COMMITTED TO ATTAIN EASE OF DOING BUSINESS INDEX AT 50 IN NEXT 3 YRS: SECRETARY, DIPP

 

No.PR-104
October 1, 2015
New Delhi

 

INDIA COMMITTED TO ATTAIN EASE OF DOING BUSINESS INDEX AT 50 IN NEXT 3 YRS: SECRETARY, DIPP
 

Secretary, Department of Policy and Promotion Mr. Amitabh Kant on Thursday announced India’s resolve to bring down its ranking of ease of doing business from current level to close to fifty in next three years, the initial reflections of which would be visible in the anticipated World Bank ranking in next few months.  In addition, he also declared almost control and regulatory free mechanism for startups to do business in India. 
 

Immediately after releasing a report on Ease of Doing Business, prepared by the PHD Chamber of Commerce and Industry and Nomura Research Institute at an Interactive Session with the government under aegis of the PHD Chamber here today, Mr. Kant said that the government was committed to make India as the easiest and the simplest place to transact business as both its bureaucracy and polity has begun to shed the regulatory mindsets that were permitted and encouraged to build over the last six decades to achieve the desired objectives.
 

“In a bid to attain the proposed ranking of fifty, the government has already constituted Vishwanathan Committee for bankruptcy law, the report of which is expected shortly.  It is also putting in place a very sound arbitration system so as to resolve the corporate disputes quicker than anticipated and also identified 336 grey points that need the attention of the states to simplify the business processes.  Similarly, host of regulations that existed for so long in the statutes have already been simplified and the existing cumbersome processes are being removed to improve ease of doing business in India”, he articulated.
 

According to him, the simplification processes that have been effected in the last couple of months have resulted in considerable improvement of doing business in India, the reflection of which have already been announced in the recently released study, monitored by the World Bank.
 

“The 336 points on which the state’s policy makers have been asked by the Centre to take action to improve ease of doing business would again be assessed and analyzed critically and objectively by the World Bank after State Governments have attended to them and that will make another impact, consequences of which lead to further improving the ease of doing business ranking, which is likely to take a minimum of three year’s time span”, Mr. Kant added.
 

He laid especial emphases on simplifying the regulatory framework that govern various MSMEs as also India’s exports and imports, saying that processes have been simplified on this front a great deal as MSMEs would now require to fill in a single page form to conduct their business from earlier requirement of filling in 22 pages form for this job.  This according to Mr. Kant will accelerate job creation.
 

The Secretary DIPP also promised that the government of the day would provide for a regulatory free business environment for startups as it is they who are going to create jobs and solid enterprises in India and make Indians job creators rather than job seekers.
 

Chairman, Expert Committee on Ease of Doing Business Mr. Ajay Shankar presided over the Interactive Session with President, Sr. Vice President and Vice President of the PHD Chamber Mr. Alok B.Shriram, Dr. Mahesh Gupta and Mr. Gopal Jiwarajka.
 

Among others who formed the panel for the interactive session comprised North India Coordinator, Embassy of United States of America, Mr. Jonathan Kessler; Chairman, LT Foods Limited Mr. V K Arora; MD, Volvo India Limited, Mr. Kamal Bali; CEO and MD, Siemens India Limited, Mr. Sunil Mathur along with Chairman and Co-Chairman, Industry Affairs Committee, PHD Chamber Mr. Anil Khaitan and Mr. Ram A Poddar.  The Secretary General of the Chamber Mr. Saurabh Sanyal was also present on the occasion.
 

Ends.

Koteshwar Prasad Dobhal
Consultant (PR)