Piyush Goyal, Commerce and Industry Minister, on Wednesday launched the single-window portal for investors and businesses. The portal will serve as a one-stop-shop for investors for approvals and clearances.
The National Single Window System (NSWS) will usher in a change from the legacy of running to government offices and will promote the ease of doing business, said Goyal at the launch.
“The portal, as of today, hosts approvals across 18 Central Departments and nine States, and another 14 Central Departments and five States will be added by December 2021,” according to an official statement.
NSWS will provide end-to-end facilitation and support to investors, facilitate clearances at the Centre and State levels, provide pre-investment advisory to new businesses, and share information related to land banks.
It seeks to address information asymmetry, duplication of information submitted across platforms and authorities, and inefficient tracking of approvals and registration faced by investors.
‘End-to-end’ facilitation
All solutions for businesses will be provided at the click of the mouse through ‘end-to-end’ facilitation and information needed will be available on a single dashboard, bringing transparency, accountability and responsiveness in the ecosystem, said Goyal.
The dashboard can be used to put in applications and also track and respond to queries. The services available include Know Your Approval (KYA), common registration and State registration forms, document repository, and e-communication, the statement added.
Economic growth
Stressing on the positive aspects of the performance of the Indian economy, Goyal said that GDP had grown at over 20 per cent in Q1 of 2021-22, while exports had jumped 45.17 per cent in August 2021 compared to August 2020.
Record FDI investment of $81.72 billion had come into the country in 2020, while in the first three months of the ongoing fiscal, FDI inflow was at $22.53 billion, which was almost double the FDI that came into the country in the same period last year.
The Minister said that NSWS will provide strength to other schemes such as Make in India, Startup India, and the Performance Linked Investment (PLI) scheme.
The beta version of the portal is open to all stakeholders and the public. An official release said the portal will progressively onboard a greater number of approvals and licences, based on user/industry feedback.
“Though extensive testing by Ministries/States is ongoing and will continue for next three months to stabilise and optimise the platform, it is critical that extensive feedback from the industry users is accommodated to ensure comprehensiveness and high utility for investors and entrepreneurs,” it said