Latest news with #NationalSingleWindowSystem
Time of India
03-07-2025
- Business
- Time of India
CII President bats for DFI-style fund to ease MSME credit woes
Live Events The collateral and documentation issues are significant challenges for MSME finance and need a faster resolution, said Rajiv Memani, President, Confederation of Indian Industry (CII), on to a question by ET Digital on credit availability, Memani proposed an idea to create a Development Finance Institution (DFI)-style fund for MSMEs that could alleviate credit issues, providing essential funding and support for small the uninitiated, Development Finance Institutions (DFIs) provide funding and support for projects that drive economic development. They focus on high-impact, long-term initiatives, accepting higher risks for developmental gains, unlike commercial banks that prioritise Memani noted that credit growth for MSMEs has recently shown an uptick. 'I think SIDBI has played a crucial role in mitigating risk and facilitating credit access for MSMEs by absorbing the initial risk, which enables banks to lend further. As a result, MSME credit growth is now gaining momentum,' he his first press conference after taking over as the CII president, Memani emphasised the need to ease compliance and regulatory burdens on MSMEs to foster their growth. 'The central government, I think, is not happy with the underutilisation of the National Single Window System ,' said Memani. The CII is advocating for uniformity between central and state-level single window clearances, he Memani proposed policy measures to boost India's manufacturing ecosystem, including scaling up MSME financing and introducing a ' Capital Support Scheme for MSMEs' for projects with investments between Rs 50 crore and Rs 1,000 suggested providing direct support to MSMEs in the form of an interest-free loan, covering 50% of the capital investment, repayable in 5 equal instalments after a 10-year period. Additionally, he proposed launching a fund similar to the Self-Reliant Fund (SRI) to support hi-tech manufacturing there are over 63.38 million MSMEs in India. In 2023-24, MSME-related products accounted for 45.73% of India's total exports, reinforcing their role in positioning the country as a global manufacturing to government data, MSME exports have witnessed robust growth, rising from Rs 3.95 lakh crore in the financial year 2020-21 to Rs 12.39 lakh crore in the financial year 2024-25. The number of MSME exporters has also seen a significant increase, expanding from 52,849 in 2020-21 to 1,73,350 in new initiatives include CII MSME Export Helpdesk to resolve export queries and connect MSMEs with buyers and a Centre for Artificial Intelligence (AI) to drive digital transformation among MSMEs and promote Responsible AI also focused on the need to raise awareness about available land for MSMEs and seek a longer transition period for MSMEs to comply with the EU's Carbon Border Adjustment Mechanism (CBAM) under Free Trade Agreement (FTA) Memani said that the Indian economy is projected to grow between 6.4% to 6.7% in the current financial year, driven by robust domestic demand, even as geopolitical uncertainty poses downside risks. He highlighted that growth risks are evenly balanced, with "geopolitical uncertainty" posing a downside risk and "strong domestic demand" serving as a positive factor.
The Hindu
01-07-2025
- Business
- The Hindu
Coal Ministry to launch digital exploration module on July 4
The Ministry of Coal is set to launch a new Exploration Module for digital approval of coal block explorations on its Single Window Clearance System (SWCS) web portal on July 4, 2025. According to the Ministry, the SWCS web portal is developed in collaboration with the Central Mine Planning and Design Institute Limited (CMPDIL), and this marks a significant step in the complete digitalisation of India's coal exploration process. 'The module covers the entire process of Exploration of coal including approval of Geological Report — from Vetting of Exploration Scheme, Submission of Periodic Progress Updates, Submission & Approval of Geological Reports with all communication of observations, compliance uploads, and final approval — all within a single digital interface,' the Ministry said in a release. This is expected to drastically reduce the time needed for processing exploration proposals, enhancing both productivity and data transparency. This initiative aligns with the Ministry's ongoing digital transformation journey, aligned with Prime Minister Narendra Modi's vision for a 'Viksit Bharat' and a digitally empowered ecosystem. The SWCS, launched on January 11, 2021, serves as a unified digital platform for obtaining all necessary clearances and approvals for operationalising coal mines and boosting coal production. It integrates various statutory permissions from Central Ministries and State Government departments, simplifying the process and improving the ease of doing business in the coal sector. Currently, the SWCS portal features several core modules such as Mining Plan Approval, Mine Opening Permission, and integrations with national platforms such as National Single Window System (NSWS), supporting end-to-end digital processing and integration with Parivesh 2.0 being implemented to obtain Environmental Clearances (EC), Forest Clearances (FC), Wild life clearances. The Registration Module is also a part of SWCS, which allows users to create authorized accounts to access SWCS services. The Mining Plan Module facilitates online submission and approval of Mining Plans and Mine Closure Plans; since its 2021 launch, 108 out of 126 proposals have been processed, reducing average processing time from 9-12 months to 4.5 months. Additionally, the Mine Opening Permission (MOP) Module, launched on November 7, 2024, enables digital submission and prompt approvals for initiating coal mining operations, with 19 of the 27 proposals received to date having been granted. Furthermore, the Project Information Management System (PRIMS) Module is available for submitting project-specific data, tracking clearances, and reporting production.
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Business Standard
22-06-2025
- Business
- Business Standard
DPIIT asks ministries to compile list of business approvals to improve NSWS
Government departments are compiling a list of all business approvals, renewals, registrations and compliances required by business entities to identify duplication and streamline processes, according to official sources. This effort is part of the National Single Window System (NSWS) initiative, aimed at providing businesses a unified digital platform for seamless approvals from both Central and State governments. The initiative is being led by the Department for Promotion of Industry and Internal Trade (DPIIT), which has been engaging with various government stakeholders and industry representatives to improve user experience on the single window system. Industry associations, sources said, have recommended creating an exhaustive, ministry-wise list of approvals and eliminating additional or redundant approvals that fall outside this list. 'The idea is to have symmetry of information, ensure transparency, improve the ease of doing business in the country and reduce the compliance burden,' a senior official said. Commerce and Industry Minister Piyush Goyal launched the NSWS in September 2021. 'The system has been working very smoothly for domestic as well as foreign investors. It has made the lives of investors easier. There is scope for more approvals, including from states, to move to this platform,' said Atul Pandey, Partner, Khaitan & Co. NSWS is a digital platform designed to help investors identify and apply for required approvals based on their business needs. Since investment proposals typically involve multiple approvals across states and departments, the NSWS seeks to eliminate the need for multiple applications across different portals and reduce the number of physical office visits, enabling time-bound clearances. The DPIIT has also held a series of meetings with industry associations, urging them to promote usage of the portal among their members. Users can currently access over 671 Central Approvals and 6,880 State Approvals through the system. The portal now hosts applications for approvals from 32 Central Ministries and Departments, and 29 State Governments. NSWS has also onboarded various government schemes, including the Vehicle Scrapping Policy, Indian Footwear and Leather Development Programme (IFLDP), Sugar and Ethanol Policy, and the National Programme on High Efficiency Solar PV Modules under the PLI Schemes. Under these schemes, NSWS has facilitated over 400 investors in applying for DPIIT's IFLDP applications, while 25 investors have submitted applications for Registered Vehicle Scrapping Facilities.
Mint
05-06-2025
- Business
- Mint
Registrars of Companies turn up the heat on Nidhi companies for company law violations
New Delhi: Registrars of Companies (RoCs) across the country have turned up the heat on Nidhi companies and their directors for violations of company law, signalling close regulatory scrutiny over these non-bank lenders. So far this year, 63 penalty orders have been issued against these companies and their directors for violations, against 33 over the same period a year ago, official data showed. These account for nearly a fourth of all adjudication orders issued by RoCs this year. Breaches by Nidhi companies include not maintaining a registered office, not appointing a statutory auditor or filing audit reports, not reporting board resolutions to the RoCs, and operating without securing Nidhi company status from the government, the penalty orders issued by RoCs showed. A Nidhi company is a non-banking finance company that accepts deposits from its members and lends only to them. Operating under Section 406 of the Companies Act, it must have at least 200 members within a year of its incorporation and maintain a certain ratio of capital base to deposits to prevent excessive leverage. RoCs have been keeping a close eye on these companies as they accept public funds and many of them operate in rural areas, making members of the community vulnerable to any failure or wrongdoing, said a person informed about the development. 'There are various other forms of mutual benefit and lending institutions in the country, including micro-finance companies, chit funds, cooperative societies and small non-bank lenders to address the financial needs of people,' said this person, who did not wish to be named. These entities are subject to oversight from state governments, the Reserve Bank of India (RBI) and the ministry of cooperation. 'After the revamping of the statutory filing processes of companies, RoCs are now more focused on enforcement activities rather than spending their time and resources taking on record the statutory filings. This is leading to enhanced oversight of corporate governance,' the person added. In 2023 the ministry set up a centralised agency for voluntary closure, allowing businesses keen to down shutters anywhere in the country to approach the Centre for Processing Accelerated Corporate Exit (CPACE) in Manesar. It also integrated its statutory filing portal MCA21 with the National Single Window System (NSWS), which offers various central and state approvals in one place, for registering new businesses. Besides, several statutory filings now require only an online acknowledgement, not approvals from RoCs, which allows them to focus on enforcement and adjudication. Queries emailed to the ministry of corporate affairs spokesperson on Wednesday remained unanswered at the time of publishing.
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Business Standard
01-05-2025
- Business
- Business Standard
Govt to put gur, khandsari under Control Order regulation, help farmers
The Central government has decided to notify draft amendments to the Sugar Control Order of 1966, said its Food Secretary on Thursday, seeking to streamline regulations and prod gur and khandsari units to pay farmers fairly. The amendments will enable the government to bring around 66 large gur and khandsari (unrefined raw sugar) units within the Control Order. The units have a sugarcane crushing capacity of at least 500 TCD (tonnes crushed per day) and are largely located in Uttar Pradesh and Maharashtra. The step will ensure payment of fair and remunerative prices to cane farmers and help in accurate estimation of sugar production. Around 31 per cent of India' annual sugarcane production of 435 million tonnes is consumed by the gur, khandsari and jaggery units. "This revision aims to simplify and streamline the regulatory framework governing the sugar sector in line with current industry dynamics and technological advancements," said Food Secretary Sanjeev Chopra on Thursday. It will ensure cane farmers receive fair and remunerative prices from khandsari factories on the basis of improved accuracy in sugar production estimates, he said. According to Ashwani Srivastava, Joint Secretary in the Food Ministry, India has 373 khandsari units with a total capacity of about 95,000 TCD. "Out of these, 66 units have a capacity of more than 500 TCD. They will now be regulated under the order," Srivastava said, adding that these units will need to register on the digital National Single Window System (NSWS). The units will have two months to register on NSWS. Various byproducts, like cane bagasse, molasses, press mud cake and ethanol, have been included in the control order. The amended order incorporates definitions from the Food Safety Standard Authority of India for various sugar products and includes clauses related to sugar price regulation, previously part of a separate order. Sugar exports Mills might end up exporting 0.8 million tonnes of sugar — one million tonnes is allocated for 2025-26 season — due to low demand. The balance 0.2 million tonnes will be ploughed back into the country. India has so far exported 0.3 million tonnes of sugar this year.
