Cabinet approves MoU between India and UK to support ease of doing business in India

The MoU shall enable exchange of officials from both the Governments to facilitate sharing of best practices, offering technical assistance and enhanced implementation of reforms. The collaboration shall also cover State Governments in its ambit.

Dec 08, 2016 11:12 IST India Infoline News Service

Tablet computer with business news
The MoU shall enable exchange of officials from both the Governments to facilitate sharing of best practises, offering technical assistance and enhanced implementation of reforms. The collaboration shall also cover State Governments in its ambit. The UK government has shown interest to offer expertise in the following areas:
  1. Support to small businesses and start ups
  2. Starting business and registration
  3. Paying taxes and tax administration
  4. Insolvency
  5. Construction permits
  6. Getting electricity
  7. Risk based framework for inspection and regulatory regimes
  8. Trading across the borders
  9. Competition economics
  10. Getting credit
  11. Drafting of laws and regulations
  12. Reducing stock and flow of regulation
  13. Impact assessment of regulations
Currently, India is ranked 130 out of 190 economies (as per Doing Business Report, 2017). The UK Government has achieved phenomenal improvement in Ease of Doing Business (EoDB) rankings in recent years. The beneficiaries include the officials from Central Government Ministries / Departments and State Governments through sharing of best practises, capacity building etc. Each side shall bear the cost of travel and logistics for its officials as well as for co-hosting trainings/ seminar/conferences.
 
The MoU shall facilitate various agencies of the UK government to offer professional courses on better regulation drafting for officials, capacity-building of frontline inspectors, sharing of best practises, etc. The collaboration is expected to expedite adoption of innovative practises by the Government of India, State Governments and their agencies leading to easing of regulatory environment in the country and fostering of conducive business climate in India.

Related Story

Open Free Demat Account (Rs699)