India Aims for Seamless Trade by Slashing Regulatory Burdens

Finance Minister Nirmala Sitharaman asserts India's commitment to reducing regulatory burdens to foster a seamless, export-friendly economy. Emphasizing trust-based governance, she highlights initiatives aimed at boosting investments and growth. A high-level committee will review regulations to enhance ease of doing business and attract global partnerships.

Finance Minister Nirmala Sitharaman has reiterated the government's dedication to decreasing regulatory hurdles, promoting trust-based governance, and paving the way for an export-centric economy. Her comments came during a post-budget webinar aimed at enhancing India's economic positioning worldwide.

Highlighting the country's efforts to attract both domestic and international investments, Sitharaman emphasized the importance of a strong manufacturing sector. Investments are driven by a reduction in regulatory obstacles, a strategy complemented by compliance simplifications to boost economic growth.

In efforts to streamline business operations, more than 42,000 compliance requirements have been removed, and a significant number of legal provisions decriminalized under the Jan Vishwas Act. The forthcoming Jan Vishwas Bill 2.0 aims to further ease these regulations, empowering industries to innovate and expand without bureaucratic hindrances.