Narendra Modi, the Indian Prime Minister may launch a NSWS, National Single Window System on 15th of August formally. Companies can obtain all regulatory approvals on this one-stop digital platform.
State-level and at least 3400 central approvals are available already on the system. Two officials of the government, on condition of anonymity revealed that the work is underway to add more on a priority.
The system will serve as a single interface between businesses and the government once it gets completed. To improve the ease of doing business management, this system is hoped to mark a significant step in India. Information for 16 States and 32 Central ministries are supported by KYA (Know Your Approvals) module on the system so far.
One of the two officials of the government cited above commented that work is on in full power to include more departments and ministries in this system. More States are also to be expected on board.
Businesses will be helped leverage marquee schemes of the government by the NSWS. These schemes include rupees six trillion NMP that is National Monetization Pipeline, rupees 1.97 trillion PLI (Production Linked Incentive) scheme, National Infrastructure Pipeline of rupees 111 trillion etc. In a statement to Mint, the DPIIT (Department for Promotion of Industry and Internal Trade) said that NSWS has been made to prioritise the needs of businesses and also the investors.
Through Invest India, DPIIT started the process of making the portal like an NSWS. It will help obtain and identify clearances and approvals needed by businesses, entrepreneurs and investors in India. It will be a single platform. By leveraging common architecture instead of making numerous platforms for increasing experience of users, this system is envisioned to build enhanced services.
In 2020-21, the Union Budget proposed an ICC, that is Investment Clearance Cell to reduce the need for investors to go to numerous offices and platforms to obtain clearances and store important information. Soon after this, the Invest India and DPIIT started making the portal collaboratively. In September, a beta version of the system was soft-launched by Piyush Goyal. He is the Minister for public and food distribution, industry and commerce, affairs of consumer and textiles. According to DPIIT, presently, approvals can be applied from fourteen territories of union or states and twenty-one central departments or ministries by the investors.
Their statement added that based on the feedback of the industry or the user, a greater number of licences and approvals will be progressively on boarded by the portal. For creating an investment environment and conducive business in all fields, the government is committed to pursue bold measures including reforms. India is now again emerging among the world’s fastest growing economies this year after rapidly bouncing back from the covid slowdown. A national window like this will definitely increase the country’s ranking on Ease of Doing business index. This will surely prove to be a much-needed step in the right direction.
KYA is an intelligent and dynamic questionnaire that is made in NSWS for incorporating the different variables of investors like entity type, sector, investment size and so on. As said by the DPIIT again, the module gives an indicative list of both state and Central approvals that is required based on particular inputs by the investors.