Commerce and Industry Minister Piyush Goyal on Wednesday launched a single-window portal for investors and businesses. The portal will act as a one-stop-shop for investors for approvals and clearances.
Speaking at the launch, Goyal said that the National Single Window System (NSWS) will change the legacy of running government offices and promote ease of doing business.
According to an official statement, “The portal, as of today, hosts approvals in 18 central departments and nine states, and another 14 central departments and five states will be connected by December 2021.”
NSWS will provide end-to-end facilitation and support to investors, facilitate clearances at the central and state level, provide pre-investment advice to new businesses, and share information related to land banks.
It seeks to address information asymmetry, duplication of information submitted across platforms and authorities, and inefficient tracking of approvals and registrations faced by investors.
‘End-to-end’ facility
Goyal said that all solutions for businesses will be provided through ‘end-to-end’ facility at the click of mouse and necessary information will be available on a single dashboard, bringing transparency, accountability and accountability in the ecosystem.
Dashboards can be used to enter applications and track and answer queries. The services available include Know Your Approval (KYA), common registration and state registration forms, document store and e-communication, the statement said.
Economic Development
Emphasizing on the positive aspects of the performance of the Indian economy, Goyal said that GDP grew by over 20 per cent in the first quarter of 2021-22, while exports grew by 45.17 per cent in August 2021 as compared to August 2020. Was.
A record $81.72 billion FDI inflows into the country in 2020, while FDI inflows in the first three months of the current financial year stood at $22.53 billion, almost double the FDI in the country in the same period last year.
The Minister said that NSWS will strengthen other schemes like Make in India, Startup India and Performance Linked Investment (PLI) scheme.
The beta version of the portal is open to all stakeholders and the public. An official release said that the portal will get progressively more number of approvals and licenses based on user/industry feedback.
“While extensive testing by Ministries/States is ongoing and will continue for the next three months to stabilize and optimize the platform, it is important to accommodate the extensive feedback from industry users to ensure comprehensiveness and high utility for investors and entrepreneurs. be done,” it said.
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