News Bureau

August 01, 2020

EoDB for Atmanirbhar Bharat

Commerce and Industry Minister Shri Piyush Goyal said that the Government is committed to policy simplification and asked for industry's feedback and cooperation. At Digital conference on Ease of Doing Business for Atmanirbhar Bharat, the Minister emphasized that a single-window system for industrial approvals will soon be in place. He urged both industry and government to work as partners and urged the industry to play a proactive role in helping the government identify the tax evaders and violators.

Speaking on the COVID situation, the Minister said that the economy is bouncing back in the country and restrictions were temporary and are now being eased. He highlighted that during the COVID crisis, the country's services sector continued to serve global clients. He said that India’s exports are almost 88% of the last year’s level while imports are almost 75% of the same period last year.

“Business is bouncing back,” he said and added that the export restrictions on ventilators will soon be done away with. He said that Centre is working with States for easier labor law, a soft launch of land bank portal, single-window clearance for investments.

On the incentive scheme for exports- Merchandise Export from India Scheme (MEIS), Shri Goyal said that the Government is looking for an early solution and the government will find a way that does not impact exports. “We are in dialogue with the requisite authorities. MEIS is not going anywhere. It is a cash flow issue. We are trying for an early solution which is a win-win for everyone” he added.

The minister also said the finance ministry is looking at ways to promote finance for investments in the country and the government has been assured by the banks that there is ample liquidity in the system. The Minister said that his Ministry has already identified 20 industrial sectors for giving a focused push.


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