Press Information Bureau
Government of India
Ministry of Commerce & Industry

09-May-2012 16:43 IST

Proposed Changes in Norm of Doing Business in Country

The details of data regarding amount of Foreign Direct Investment (FDI) and Foreign Institutional Investors (FII) inflows into Indian economy for the past four years are as under:

*From RBI’s Bulletin dated 09/04/2012 (Table no. 44)

As per 9^th report entitled ‘Doing Business 2012’, of the World Bank, India’s overall ranking is 132 out of 183 participating countries showing an improvement of 7 points compared with India’s rank in their 2011 report.

                India’s efforts to attract ‘Foreign Direct Investment’ are an ongoing and continuous exercise.  The Government has taken concerted steps to provide investor-friendly environment in the country.  Measures undertaken to improve business environment in the country include e-Governance.  MCA-21, Investment Policy liberalization, Single Window Systems by State Governments, Single window for payment of income tax and corporate tax, ICE-Gate for online filing of custom and exercise documents, Right to Information Act 2005 and Micro, Small and Medium Enterprises Act 2006.  In addition, the Government has initiated the implementation of the eBiz Project, a Mission Mode Project under the National e-Governance Project, to provide an online single window  to investors & businesses for registrations, filing, approvals, clearances etc.  This project aims to create a business and investor friendly ecosystem in India by making all business and investment related regulatory services across Central, State and Local governments available on a single portal, obviating the need for the investor or the business to visit multiple officers or a plethora of websites.

This information was given by the Minister of State for Commerce and Industry, Shri Jyotiraditya M. Scindia  in a written reply in the Rajya  Sabha today.

DS/GK

Investor-friendly regulatory reforms streamline approvals via a unified online single-window to ease foreign investment procedures. The government links improved capital inflows and a better Doing Business ranking to sustained regulatory and administrative reforms aimed at attracting Foreign Direct Investment. Central measures emphasise digital platforms (MCA-21, ICE-Gate), statutory transparency and enterprise support, state single-window systems, consolidated tax payment windows, and the eBiz Project-a unified online single window for registrations, filings, approvals and clearances across government levels to streamline investor interactions.