Single window portal to strengthen investment schemes
The Minister for Commerce & Industry Piyush Goyal has launched single window portal as a one-stop-shop for investors for approvals and clearances, bringing Transparency, Accountability and Responsiveness.
The National Single Window System (NSWS) will be available on a single dashboard for an applicant to apply, track and respond to queries. Services include Know Your Approval (KYA), Common Registration and State registration Form, Document repository and E-Communication
Goyal said NSWS will provide strength to other schemes such as Make in India, Startup India and PLI scheme.
Reiterating its commitment to “Make in India, Make for the World”, the government has launched several initiatives recently, including the US$27 billion flagship Production Linked Incentive (PLI) Scheme and the India Industrial Land Bank System.
One such crucial initiative is the ambitious Investment Clearance Cell (ICC) to provide “end to end” facilitation and support to investors, including pre-investment advisory, provide information related to land banks and facilitate clearances at Centre and State levels. The cell was proposed to operate through an online digital portal.
NSWS, initiated by DPIIT and Invest India, has been designed keeping the needs of entrepreneurs and investors at the center, said the Ministry on 22 Sept 2021.
NSWS provides following online services:
• Know Your Approval (KYA) Service: an intelligent information wizard that generates a list of approvals required by any business to commence operations. It does so by asking the investor a series of dynamic questions about their planned business activities and identifies the applicable approvals basis the responses provided. The questionnaire, simple and user friendly on the surface, has a complex, automated logic built into it to sieve through hundreds of approvals, and shortlists only those relevant to the specific investor or entrepreneur. This service was launched on 21 July 2021 with over 500 approvals across 32 Central Departments and over 2,000 approvals across 14 states.
• Common Registration Form: To ensure a single point of submission of information and documents across Ministries and States, a unified information capturing system along with a common registration form has been introduced. Information is auto-populated on forms, eliminating the need to fill in the same information again.
• State registration form: Enables investor to have seamless single click access to respective State Single Window System.
• Applicant dashboard: Provides a single online interface to apply, track and respond to the queries pertaining to approvals and registrations across ministries and States.
• Document repository: An online centralized storage service for investors to enable one-time document submission and use the same across multiple approvals. This eliminates the need to submit documents at multiple portals.
• E-Communication module: Enables online response to queries and clarification requests related to applications by Ministries and States.
The beta version of the portal has now been completed and is being opened to all stakeholders and the public as trial soft launch. The beta version of the portal (under Phase I), hosts approvals from 18 Central departments and 9 States and is aimed at guiding investors to the list of business approvals they may need, based on information provided by them. Another 14 Central departments and 5 States will be onboarded by December 2021 (under Phase II)
The portal will progressively onboard a greater number of approvals and licenses, based on user and industry feedback. Though extensive testing by Ministries and States is ongoing, and will continue for next three months to stabilize and optimize the platform, it is critical that extensive feedback from the industry users is accommodated to ensure comprehensiveness and high utility for Investors and Entrepreneurs. #investment #banking #technology /fiinews.com
