In-Depth Analysis | News & Insights | Textile Industry

Commerce Ministry Seeks Inputs to Reduce Regulatory Compliances & Streamline Processes

Published: January 3, 2024
Author: TEXTILE VALUE CHAIN

The Commerce and Industry Ministry has reached out to export promotion councils and other industry bodies, requesting specific inputs on measures to reduce regulatory compliances and streamline processes even further. This move aligns with the government’s commitment to enhancing the ease of doing business and reducing the burden of compliance. Sources tracking the matter have revealed that input has been sought from export bodies on matters related to various authorities such as the Directorate General of Foreign Trade, Customs, the RBI, the CBIC, and the GST regime.

Once the inputs are received and processed by the government, the policies and procedures will be accordingly modified. Officials from exporters’ bodies have expressed their eagerness to contribute suggestions on simplifying processes and identifying areas where self-certification and lesser documentation can be implemented. Additionally, it has been highlighted that revisions may be made to the Foreign Trade Policy 2023 based on the received inputs.

The government’s primary focus is on simplifying procedures, rationalizing redundant laws, digitizing processes, & decriminalizing minor technical or procedural defaults. Minister of State for Commerce, Som Prakash, emphasized this during a Parliament reply. The Department for Promotion of Industry & Internal Trade (DPIIT) has already started assessing the cost of regulations in states to identify potential areas for reform.

Moreover, industry players have been invited to contribute inputs regarding the decriminalization of provisions in the upcoming second edition of the Jan Vishwas Bill. This bill, which was passed in both the Lok Sabha and the Rajya Sabha, aims to decriminalize approximately 180 minor offences from 42 legislations, including some outdated colonial-era laws.

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