Government will finally launch its one-stop portal for foreign and domestic investor On September 22, in a major move to help entrepreneurs secure plethora of clearances required to set up and run a business in India.
It was initially announced as an integral part of Prime Minister Narendra Modi after more than half a decade Make in India The scheme, single-window portal has finally been finalized by Department for Promotion of Industry and Internal Trade (DPIIT).
The one-stop digital portal has been in the making since 2016, but had run into a plethora of administrative and implementation challenges. It also missed several deadlines during this period.
With an aim to increase the Ease of Doing Business manifold, the portal can be used to properly investigate investment opportunities across India, get in-depth data about land, labour, logistics and cost as well as communicate with government agencies on the ground. To stay in touch can be done. It is expected to provide investors with time-bound approvals and real-time status updates.
Most importantly, it can be used to obtain all necessary central and state approvals and approvals required to start and continue business operations in India.
investment clearance cell
“Keeping in mind the large number of touchpoints like regulatory bodies as well as district, state and central governments, the portal has been designed to work as a centralized investment clearance cell,” an official said. It will provide end-to-end facilitation support including pre-investment advice, information related to land banks, and facilitate clearances at the central and state levels, as proposed in the Budget 2020-21 announcement.
The cell will integrate the existing clearance systems of various Ministries and Departments of the Central and State Governments and have a single, unified application form without disrupting the existing IT portals of the Ministries. This will eliminate the need for domestic and foreign investors and entrepreneurs to visit multiple platforms/offices, which continues to be a major pain point for them.
The Economic Survey 2020-21 shows that to start manufacturing in India, an individual on an average needs to comply with 6,796 compliance items mandated by 51 central and state laws.
long time coming
Apart from the slow pace of policy movement, the portal was put on hold due to issues such as differences between states regarding available infrastructure and lack of efficient data on land banks.
Since 2016, the Center has been prompting states to map the land available at their disposal and create clusters of well-connected land banks that can attract foreign investment. But the level of work in this area varies widely between states, with state legislatures struggling to amend rules to open them up to industrial development on common lands in panchayat areas.
In addition, heavily populated states such as West Bengal, Bihar and Uttar Pradesh have struggled to create industrial land parcels, while the conflict around land has escalated.
In 2020, the government had initially integrated the Industrial Information System (IIS) portal with the Geographical Information System of six states. The combined data was mapped and a user interface was created.
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