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Piyush Goyal initiates National Single Window System for investors
Commerce Minister Piyush Goyal on Wednesday initiated the National Single Window System (NSWS) for investors and businesses in India, the ministry said in a statement. The digital platform aims at permitting investors to identify and apply for various pre-operations approvals required for commencing a business in the country.
Commenting at the launch, Goyal said that this single window portal will become a one-stop-shop for investors for approvals and clearances, and hailed it as “a giant leap, towards making India Aatmanirbhar”.
The minister, highlighting the importance of the new system, said it will usher in Azadi (freedom) from the legacy of running to government offices for approvals and give a boost to the ease of doing business in India. He also said that NSWS will strengthen other government schemes such as Make in India, Startup India, PLI scheme etc.
Goyal spoke about the business and commerce segment in India and the levels of growth that it has been witnessing. “Today, India holds the attention of the world and the entire world is looking at India to rise and claim its rightful place as an economic powerhouse. GDP has grown at over 20% in Q1FY22, exports jumped 45.17% in August as compared to August 2020. There has been record FDI investment of $81.72 bn in 2020, $ 22.53 bn inflow in first 3 months of this FY ~2X w.r.t. same period in 2020. Recently, India has jumped to 46th spot on GII, a jump of 35 places in last 6 years,” stated Goyal.
The ministry said the beta version of the portal has now been concluded and is being opened to all stakeholders and the public as trial soft launch. The beta version of the portal (Phase I), hosts approvals from 18 Central departments and nine states, and is targeted at guiding investors to the list of business approvals they may need based on information provided by them. Another 14 central departments and five states will be onboarded by December 2021 (under Phase II), the statement added.
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