Union Commerce and Industry Minister Shri Piyush Goyal inaugurated the CII (Confederation of Indian Industry) Ease of Doing Business (EoDB) and Regulatory Affairs Portal at the 2nd DPIIT-CII national conference on Ease of Doing Business in New Delhi. The main aim of this launch is to facilitate business. This can be achieved by reducing bureaucratic hurdles and minimising paperwork. Let us have a look at more features regarding the EoDB portal below.
This portal will act as a National Single Window System (NSWS). Investors will have ease in identifying and applying for approvals. It will also provide a real-time tracking option. By using this service, one can notice whether it’s real-time or not. It also improves transparency, which promotes Investor confidence. The ease of doing business portals is a boon for those who need it.
The step aims to decriminalize 300 additional laws to ease compliance. It also promotes the industry to respect and follow the law. This will help with solving tasks of several kinds in less time than businesses often spend. The industries will be having results that will lead to better growth. Let us discuss some of the key features of the Ease of Doing Business Portal below.
The portal will also enhance the confidence of the investor attracting more investors. This will work on a “Power of Three” framework. Under this framework, the stakeholders will be tripling their speed and efforts. There will be technological advancements as well. It will depend on the speed, agility and operations. There will be several online services like business registration, tax filing, and licence renewal as well.
As the platform is already providing every solution in one place, the businesses will be saving a lot of their time and effort. The environment will be business-friendly as well. Other countries like Singapore are using this system as well. While UAE is also working on improving the business environment and establishing an Integrated Permit System.
This will act as the bridge between government and industry to foster economic progress. In conclusion, Piyush Goyal has launched the Ease of Doing Business Portal for the welfare of businesses and startups. The businesses and startups will be getting all their requirements fulfilled in one place. Stay tuned for more information on our website Industrial Front.