MCA to launch SPICE in Dec to strengthen ease of doing business

India aims to become the arbitration hub

taru

Taru Bhatia | November 3, 2016 | New Delhi


#Ramesh Abhishek   #corporate affairs ministry   #MCA   #SPICE   #DIPP   #FICCI  


By December-end, the ministry of corporate affairs will launch Simplified Proforma for Incorporating a Company Electronically (SPICE), an e-form that will eliminate the need to fill multiple forms by business entities in India, Ramesh Abhishek, secretary, Department of Industrial Policy and Promotion (DIPP) said at a FICCI event on Wednesday.

He said that the main objective of launching SPICE is to provide speedy incorporation related services within a stipulated time-frame, in line with international best practices. The measures are part of improving ease of doing business in India.
 
He further added that enforcement of contracts is another challenged faced by corporate sector in the country. “We have commercial benches in high courts and ranks are improving in enforcement of contracts. But we still have a long way to go.
 
Hence, we are planning to set up more commercial courts next year and make them paperless, that would include e-courts, e-filing, e-services and uploading of orders on the internet.”
 
India aims to become the arbitration hub and was working towards it, the secretary said, adding that with the insolvency and bankruptcy code 2016 and GST roll-out next April, the business environment will improve in India.
 
Speaking about performances of states, the secretary mentioned that the DIPP recently ranked states on 340 parameters on ease of doing business. “Up to 15 states have crossed 75 percent and 12 states have got score more than 91 percent. This shows that states are working hard, along with the central government, to improve their processes and procedures on ease of doing of business.”  Soon a feedback mechanism would be included in the state rankings, he added.

 

Comments

 

Other News

70 words that define India, why Doklam stand-off won’t lead to a war, and more

As India celebrates 70 years of freedom, Governance Now looks back and picks 70 words – or phrases, buzzwords, slogans, events – that best define this ancient nation and young democracy. Here, you will find much to be proud of, much tinged with pangs of nostalgia. Then there are entries that

A dose of PPP in healthcare is what the doctor recommends

Dr Kenneth E Thorpe, a professor of health policy and management at Emory University in the US and also the executive director of Partnership to Fight Chronic Diseases (PFCD), says that the government alone cannot do everything. “They don’t have the resources and capacity. So we have to fin

EESL signs MoU with oil companies for energy saving appliances

Energy Efficiency Services Limited (EESL), a joint venture company of PSUs of ministry of power, signed an agreement with oil marketing companies (OMCs) of ministry of petroleum and natural gas for distribution of energy efficient appliances under the flagship Unnat Jeevan by Affordable LEDs and applianc

Jammu airport’s upgraded terminal building inaugurated

Union minister for civil aviation, P Ashok Gajapathi Raju inaugurated the upgraded passenger terminal building of Jammu airport.   Notably, Jammu airport belongs to the Indian Air Force, and airports authority of India (AAI) maintains a civil enclave for civil aircraft operat

Election Commission shows it has spine

The election commission has become increasingly assertive in the past few months, showing its mettle in times of electoral challenges.   Weeks after rooting from EVMs and just days after the poll panel declared votes cast by two rebel Congress legislators in the Rajya Sabha e

Is Amit Shah`s blueprint for 350-plus seats in 2019 Lok Sabha elections achievable?

Is Amit Shah`s blueprint for 350-plus seats in 2019 Lok Sabha elections achievable?



Video

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter