1) Creation of a business-friendly environment
2) A service-oriented approach to the investors, industries and businesses.
3) Catering to all the requirements of businesses for G2B services through their life - cycle.
Various studies and feedback from existing/potential foreign investors have shown that even though India has a liberal FDI Policy, economic and political stability, complexities in the approvals required for setting up the projects and thereafter in dealing with the regulatory agencies during the entire lifecycle of such projects are among the major difficulties experienced by the investors in the implementation of projects. Since India has now a very liberal policy on FDI and technology transfer, perception about complexities in the regulatory framework, procedural delays and bottlenecks are now perceived as major impediments to attract greater FDI into the country.
The World Bank Report on ‘Investment Climate in India' has also highlighted that, apart from macro or country level issues concerning economic and political stability, efficacy of country's regulatory framework is an important determinant towards creating an attractive investment climate. As far as local market size and labour costs are concerned, India is well positioned. However, in respect of amount of time that plant manager spends dealing with the Government officials and the number of inspection visits per year, India fares rather poorly.
The World Bank Report on "Doing Business in 2004" also highlights that number of procedures, time taken and cost of transactions are the major obstacles for foreign investors in India. It is particularly stated that procedures involved in starting a business are complex, time taking and expensive.
eBiz seeks to eliminate to a large extent such procedural bottlenecks and thereby facilitate the creation of investment climate by way of creating a mechanism for smooth and hassle free industry-Government interface. The portal would be specifically targeted to address the issues related to pre-establishment approvals and post- establishment requirement of submitting returns/reports etc. by foreign investors.
For business queries, contact:
Mr. Sanjiv Mital Chief Executive Officer, NISG
Mr. Vijay Saradhi
Vice President, NISG