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Making India easy for business--Make in India

Making India easy for business-Make in India - Customs - Import - Export - SEZ - By: - Sumit Arora - Dated:- 24-8-2015 Last Replied Date:- 25-8-2015 - The country needs to fix its dismal track record when it comes to issues around cross-border trading, dealing with construction permits, and enforcing of contracts, to improve its overall rank Addressing global dignitaries at the recently concluded Seventh Vibrant Gujarat Global Investors Summit in Gandhinagar, Prime Minister Narendra Modi said he .....

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rs - starting a business, dealing with construction permits, getting electricity, registering a property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, resolving insolvency - the World Bank group gives individual rankings for each one of these, which collectively provides the final rank. Experts say if India is to improve its overall rank in Doing Business index, it is important to fix issues when it comes to trading across borders, dea .....

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orts and airports is the multiplicity of regulators, and that not all of them sit at the terminal. Points out a Bengaluru-based custom agent: There was no drug controller in Bengaluru for a long time. So if anybody wanted to bring in medicines, they have to either use the Chennai or the Mumbai terminals. In Delhi, it takes almost a week to 10 days if you want to get a food regulator's approval, said another custom agent. Said a trade expert familiar with the issues: A person should not be go .....

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rules bar it. Also, the number of documents required to carry out trading across borders in India are more. According to World Bank group Doing Business report, it takes seven documents to export, and ten to import, to and from India. The comparative number of documents required in Singapore is three. It takes 16 days in India, and six days in Singapore, to export. It takes time to get documents approved by officials, explains an Indian exporter. Dealing with construction permits According to t .....

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e added. Many feel that the time is right for the government to create an online single window clearance mechanism which can decrease the time taken to get these clearances. Another common industry complain is that urban planning bodies are filled with semi-skilled people who do not understand the complexity of the permit process. India needs to significantly invest in capacity building and training in this respect. This can be done by setting up more educational institutions catering to the req .....

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s accountability. Enforcing contracts India is at the bottom of the chart at 186th place when it comes to enforcing of contracts. As per the Doing Business report, it takes almost four years to enforce a contract in India. Settlement of claims is a protracted exercise burdened by several formal procedural requirements, say those in legal fraternity. Even if private parties agree upon arbitration, which is an extra-judicial remedy, courts often intervene when approached by either party. This make .....

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