Several measures are in the works at central and state levels to streamline laws and simplify processes for converting ‘red tape into red carpet’ for investors, Department of Industrial Policy and Promotion (DIPP) said on Tuesday.
DIPP Secretary Ramesh Abhishek said the department wants to cut down legal, regulatory and procedural complexity associated with doing business in India. He was speaking at the launch of NCAER's State Investment Potential index report.
“The Prime Minister has elucidated his vision of converting red tape into red carpet. To support this vision, DIPP is working with all central departments and State Governments to drastically streamline the laws and regulations and make them available to the public,” he said here.
“Simplify application forms and processes and take them online preferably through single-window systems, streamline the inspection regime by introducing risk-based approaches and offering self-certification and third-party certification alternatives to low and medium risk businesses.” Asserting that the Government is committed to improving ease of doing business, Abhishek said states are very enthusiastic after their rankings by the World Bank, and there is a healthy competition among them to bring about changes.
Talking about specifics, he said the report has cited corruption, delay in getting approvals before starting a business and hurdles in getting environmental clearance as the top three constraints.