The government of India has taken a series of following measures to improve ‘Ease of Doing Business’ in the country. Existing rules have been simplified and information tech nology is introduced to make governance more efficient and effective:
- The process of applying for Industrial License (IL) and Industrial Entrepreneur Memorandum (IEM) has been made online and this service is now available to entrepreneurs on a 24×7 basis at the eBiz website.
- Twenty services are integrated with the eBiz portal which will function as a single window portal for obtaining clearances from various governments and government
- Notification has been issued by Directorate General of Foreign Trade (DGFT) to limit number of documents required for export and import to three.
- The Companies (Amendment) Act 2015 has been passed to remove requirements of minimum paid-up capital and common seal for companies.
- Defence products’ list for industrial licensing has been issued, wherein a large number of parts/components, castings/forgings, etc. have been excluded from the purview of industrial licensing.
- Similarly, dual-use items, having military as well as civilian applications (unless classified as defence item), will also not require ILs from the defence angle.
- The Ministry of Home Affairs has stipulated that it will grant security clearance on IL applications within 12 weeks.
- Registration with the Employees Provident Fund Organization (EPFO) and Employees State Insurance Corporation (ESIC) has been automated and ESIC registration number is being provided on a real-time basis.