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India Inc seeks govt aid to compete globally

New Delhi: India Inc has suggested policy measures pertaining to approvals for starting a business, dispute resolution and logistics infrastructure to make industry more competitive globally.In a presentation to the government on ‘Ease of doing business for Atmanirbhar Bharat’ earlier this week, industry body Confederation of Indian Industry (CII) suggested effective implementation of a single-window system (SWS) to rationalise procedural time and costs of approvals and clearances involved in starting a business.CII said getting clearances is a cumbersome and time consuming process as the jurisdiction of different departments for providing approvals is limited and there is no accountability in case clearance is not granted.The industry body proposed a system similar to that in Vietnam where officials are empowered to be a single-point of contact with a company for all parts of the government. It suggested setting up a central monitoring mechanism to ensure effective implementation of the proposed single-window facility by all states. 76882126CII also mooted a deemed approval facility where clearances will be deemed to be given beyond a certain period unless there are serious objections. The presentation flagged registration and acquisition of land as major concerns. The World Bank has ranked India at the 63rd position among 190 nations in its ‘Ease of Doing Business’ index, but is at the 154th spot on the ‘Registering Property’ indicator.The presentation asked state governments to consider allowing industries to directly buy land from farmers and suggested rationalising stamp duty across states.In the medium term, it proposed that all land records should be digitised and a single-window for all land-related information and transactions should be created.