Easing early-stage funding for start-ups, reducing the compliance burden on businesses and overall logistics costs might be the focus of the Department for Promotion of Industry and Internal Trade (DPIIT) in its 100-day action plan. This is as per a report by the Economic Times.
The department's strategy also includes reforms to simplify the ease of doing business. Additionally, a public-private partnership governance model is under discussion, the report added.
The policy for deep-tech start-ups is also being worked on by the DPIIT. “The National Deep Tech Startup Policy (NDTSP) will support deep tech startups and secure India's financial future, progress towards a knowledge-driven economy, and bolster productivity,” as per the Office of the Principal Scientific Adviser. Speaking to the Economic Times, an official said, “"The consultations for the policy are on and we are in advanced stages of discussion.”
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The official reportedly added that the comments of eighteen ministers have been taken. Other initiatives include reducing the compliance burden under the Jan Vishwas (Amendment of Provisions) Bill’s second edition, adds the report. The Bill aims to “amend certain enactments for decriminalising and rationalising offences to further enhance trust-based governance for ease of living and doing business.” More than 40,000 compliances have been simplified or eliminated under this bill.
The Steering Committee for Advancing Local Value-add and Exports, or SCALE Committee, has been tasked with identifying any other industries that would require manufacturing incentives as part of the 100-day plan. As per the report, while certain incentive programs might be included in the 100-day agenda, others would probably wind up in the department's five-year plan.
Additionally, for many flagship schemes such as PM GatiShakti and Production-Linked Incentive scheme, plans are being made. The National Institue of Design and Quality Control of India might also be linked, as per the report.
