Page 5 - Ease Of Doing Business

Govt sets up working group to decriminalise legislations for ease of biz

Commerce and Industry Minister Piyush Goyal on Thursday informed the Lok Sabha that the government has set up a working group to decriminalise laws to further promote ease of doing business. Replying to a debate on the Jan Vishwas (Amendment of Provisions) Bill, 2023, he said the group will look at areas, where more decriminalisation of provisions is required. He said that the group comprised representatives from industry associations, business chambers, legal professionals, legal experts and officials of seven ministries. Besides, it would also have representatives of the National Housing Bank (NHB), National Bank of Agriculture and Rural Development and Central Pollution Control Board. The Bill was later passed in the Lok Sabha through a voice vote as Opposition members protested and raised slogans on the Manipur issue. The Bill seeks to amend 183 provisions across 42 Acts administered by 19 ministries to reduce the compliance burden on individuals and businesses. Goyal said th

Mixed results

GST appellate tribunal will improve ease of doing business

Sebi's new FPI disclosure norms could pose roadblock for compliances

The recent proposal by Sebi to make disclosure norms more stringent for Foreign Portfolio Investments (FPIs) has reignited the discussion on Indias stand on promulgating ease of doing business

Ease of doing business improved; still long way to go in many areas: CII

The ease of doing business in the country has improved in the last 5 to 10 years but there is a long way to go in many areas, the Confederation of Indian industry (CII) said on Friday. Addressing the media after a meeting of its members from the four western states of Maharashtra, Gujarat, Madhya Pradesh and Goa, CII Western Region Chairman and Tata Power MD and CEO Praveer Sinha said the industry feels there is a lot of growth happening and there is a lot of opportunity in the country. In a poll of CEOs conducted by it, 76 per cent of the respondents were of the view that the Indian economy is expected to remain resilient in the backdrop of global geo-political headwinds. "The ease of doing business has improved but if you ask me if it is 100 per cent, it is not 100 per cent. It is still some 55-60 per cent. That means there are opportunities of improvement," Sinha said. He said that though the ease of doing business is better than it was 5 or 10 years back, "it is still a long wa

Changes in anti-money laundering law can impact foreign investment: CAs

Chartered accountants are seeking clarifications on the finance ministry's recent notification on extending the ambit of anti-money laundering law as it can adversely impact ease of doing business and facilitation of foreign investments. According to industry sources, chartered accountants (CAs) and company secretaries often act as formation agents for foreign companies setting up businesses in India and often provide their own address for communication in the initial phase. They also act as resident directors of the foreign company trying to establish presence in the country and also operate bank accounts on behalf of their clients. Industry sources said there is no way that an accountant can know whether the money that an investor is bringing into India is bonafide or laundered money and verify its source. In view of the pending review by the global watchdog on terror financing and money laundering scheduled later this year, the finance ministry has in recent months tightened and

Under construction

Project delays must be avoided

Economic, demographic base driving interest in doing business: Report

When Tim Cook arrived in India earlier this month to open Apple's first physical store in the country, he was welcomed like a hero, media reports said

Defence Ministry initiates reforms to further promote ease of doing biz

Under the existing procedure, certain bottlenecks were experienced by the industry to bring timely improvements in their products and technologies in line with changing times

Why is India catching up to Singapore as top business environment

The improvement is mostly attributable to gains in its scores for foreign trade and exchange controls, infrastructure, and technological readiness

India improves its ranking by 6 spots in global biz environment rankings

Out of 17 economies in the Asian region, India is ranked 10th in the 2023- 27 forecast period, up from 14th in 2018-22 period

Government of Gujarat promoted companies: A success story

The state is consistently ranked among top three in terms of attracting capital investment including foreign direct investment

Govt to bring retail trade policy to promote ease of doing biz: Official

The government is working to bring a national retail trade policy for brick and mortar retail traders with an aim to promote ease of doing business, a senior official said on Monday. Joint Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Sanjiv said that the policy would also help in providing better infrastructure and more credit to traders. The Department, he said, is also working to bring an e-commerce policy for online retailers. "We want that there should be synergy between e-commerce as well as retail traders," Sanjiv said at a conference on FMCG and e-commerce here. The Department is also in the process of formulating an insurance scheme for all the retail traders. The accident insurance scheme would particularly help small traders of the country, he added. "The government is trying to do policy changes not only in e-commerce but national retail trade policy which will be for physical traders which will be introducing ease of doing business,

India's tech sector revenue to cross $245 billion in FY23, shows data

The year is emerging as India's techade, with robust opportunities in creating public digital infrastructure, and greater ease of doing business

Andhra Pradesh CM banks on 'silent revolution' to attract investors

Over 8,000 delegates from across world expected to participate in investor summit that begins today

Soon, book a drone powered by PPP; pilot project set for take-off

States may provide a subsidy on the price that consumers have to pay for the service to make it more affordable

CM Mann woos investors, promises to give clearances within 15 days

The previous Punjab Investment Summit attracted investment to the tune of 8,200 crore, according to the commitment listed on the Summit's website

We are a phone call away: Andhra CM YS Jagan Mohan Reddy to investors

The state is determined to preserve its reputation for ease of doing business with focused policies

Next phase for GST

Appellate tribunal will improve business environment

A question of quorum

Understrength CCI undermines business climate

1,330 foreign firms, subsidiaries have shut shop in last 3 yrs:Minister

As many as 1,330 foreign companies and subsidiaries of overseas firms have shut shop during the last three years, Parliament was informed on Friday. In the same period, however, as many as 4,994 new foreign companies and subsidiaries of foreign companies got registered in India, Commerce and Industry Minister Piyush Goyal said in a written reply to the Rajya Sabha. There are 17,432 active foreign companies and subsidiaries of foreign companies operating in the country, he said. "1,330 foreign companies and subsidiaries of foreign companies have closed during the past three years," he said. He said that the closing of operations is a matter of private commercial business decision. "It depends on a host of factors such as viability of operations, availability of resources, market size, infrastructure, political and macroeconomic climate as well as the decision of a particular business entity to operate in the country," Goyal added. Meanwhile, replying to a question on trade gap, ..