Government’s 5 ‘Is’ (Intent, Inclusion, Innovation, Infrastructure & Investment) approach to make India self-reliant

Union Minister of Commerce & Industry, Consumer Affairs, Food & Public Distribution and Textiles, Piyush Goyal has said we have to find new ways of financing infrastructure. Addressing the CII National Conference on ‘Ease of Doing Business for Aatmanirbhar Bharat’, Goyal said a New India will be powered by Aatmanirbhar Bharat & Ease of Doing Business (EoDB).

“The very fact that the Prime Minister spoke of going into the Top 50 just changed the way all of us looked at, - government and industry,” adding, “The Prime Minister is already edging us, - 50 was an initial target I set in the first term, now you have to be more ambitious, - you should be in the Top 25!” said Goyal.

Noting that the Top 40 countries are “very highly Developed countries, Goyal pointed out “piercing that curtain and then doing better than them is a Big Challenge!” “So! That’s what we are here for!” said Goyal, quoting the Prime Minister.

Goyal listed out the Government’s 5 ‘Is’ (Intent, Inclusion, Innovation, Infrastructure & Investment) approach to make India self-reliant. “Believe me! The most Developed countries and some of the countries who are currently on a fast trajectory of growth, if you study their growth story, you will find it one of their biggest pillars of growth story is Innovation! There are new ideas, new ways of doing things,” he said.

Quoting the Prime Minister Narendra Modi, Goyal said the ultimate aim of EoDB reforms is to achieve Ease of Living for citizens. “I think, today India means Business and the world recognizes that. With political stability, policy continuity, pro-growth & pro-business thinking in the Government and in our young entrepreneurs and the Startups, in our traditional businesses, this is the time to really go for it.”

Goyal said the Government is undertaking five structural reforms for EoDB:

1. National Single Window System - a one-stop-shop for approvals & clearances needed by investors & businesses. It includes Know Your Approval, Common Registration Form, Document repository, etc. Portal hosts approvals across 18 Central Departments & 9 States. Urging all the industry stakeholders to use the NSWS and give feedback & suggestions, Goyal said, “Further, another 14 Central Dept. & 5 States will be added by December’21, but our ambition is much, much more.”

2. Industrial Land Bank - a GIS-based portal, serving as a one-stop repository of all industrial infrastructure related information. Integrated with GIS systems of 17 states, the ILB has a database of more than 4,000 industrial parks mapped across an area of 5.5 lakh hectare of Land. “You will be amazed, Ladies & Gentlemen, there’s 1 lakh ha of land available for industry, for business across the country,” said Goyal.

3. Regulatory Compliance Portal - it’s a real-time dashboard under direct monitoring of the Cabinet Secretary to track progress. States & UTs have eliminated burdensome compliance by removal of unnecessary licenses, permissions, rationalization of renewals, self-regulation and self- certification should be the way forward.

4. State Reforms Action Plan (SRAP) - Centre working with the states trying to promote healthy competition in a spirit of cooperative federalism among states & led to digitization of procedures. Goyal said, a 301-point State Reforms Action Plan, 2020 has been shared with the States/UTs covering 15 reform areas.

5. PM Gati Shakti - launched to build next-Gen infrastructure, the Gati Shakti portal provides multimodal connectivity to ensure integrated & seamless connectivity. Underlining that Gati Shakti will break departmental silos & institutionalize holistic planning, Goyal said all Departments will now have visibility of each other’s projects through a centralized portal.

Goyal said our Industry will have to lead the way in India’s endeavour to become Aatmanirbhar. “I would like to emphasis on 4 points for enhanced industry contribution,” he said.

1. For Indian Inc to be the best, need to have a greater appetite for taking risks.

2. “Holistic solution” to commercial disputes problems.

3. Need to “Look beyond cost” for building a “Resilient Ecosystem”.

4. Greater focus on Innovation, Sustainability and “Brand India”.

Making a quote, “Opportunity does not knock, it presents itself when you are actively looking for it”, Goyal said India today is the new land of opportunities, inviting the world to “Ideate in India, Innovate in India & Make in India - For the World.”