2nd phase of single window approval system in Dec

The commerce and industry ministry will introduce a single-window system for granting all approvals to existing businesses, Department for Promotion of Industry and Internal Trade (DPIIT) secretary Anurag Jain said on Friday, in a step aimed at further improving the ease of doing business.

Jain said India has been consistently receiving higher foreign direct investment (FDI) despite geo-political disturbances and the pandemic.

“We have started working on the phase 2 of single window which will help existing businesses in getting faster clearances. We want to create a single business ID which will be the PAN to make it a seamless experience by December 2023,” he said at a Confederation of Indian Industry (CII) conference.

Sanjeev Sanyal, member, Economic Advisory Council to the Prime Minister, said the government has introduced a plethora of reforms aimed at achieving macroeconomic stability and easing the business climate such as implementation of GST and cleaning up of the banking system.

The focus is on supply-side reforms and privatization for efficient delivery of services.

“Going forward, reform measures shall be undertaken in the domain of judicial system and intellectual property rights while ensuring capacity building of government officials. A strong industry-government partnership is also encouraged for further improvement in business climate for MNCs,” said Sanyal.