Single Window System For Investors:
The Ministry of Commerce and Industry has launched the national single window system for investors and businesses to improve Ease of Doing Business (EoDB).
- India was placed at 63rd position in the World Bank’s ease of doing business report, 2020 out of 190 countries. Recently, the World Bank has decided to discontinue ‘Doing Business’ reports.
- DPIIT along with Invest India initiated the process of developing the portal as a National Single Window System (NSWS).
- DPIIT (Department for Promotion of Industry and Internal Trade) comes under the Ministry of Commerce and Industry.
- Invest India is the National Investment Promotion and Facilitation Agency of India and acts as the first point of reference for investors in India.
- The portal offers a single dashboard, allowing businesses to apply for clearances, track progress and respond to queries.
- It would become a “one stop shop” for state and Central government compliances and bring transparency, accountability and responsiveness in the ecosystem.
- It will also offer a Know Your Approvals service to inform businesses of the details of all the approvals they need to obtain as well as a common registration form, document repository and e-communication module.
- It will provide strength to other schemes e.g. Make in India, Startup India, PLI scheme etc.