Goyal to industry: Our effort is to reduce burdensome compliances

The effort of the Central government, along with states, is to eliminate burdensome compliances, reduce the need for licensing and rationalise the renewal process with an aim to promoting ease of doing business, Commerce and Industry Minister Piyush Goyal said Saturday.

At the CII National Conference on Ease of Doing Business for Aatmanirbhar Bharat, Goyal suggested that the industry and the government together can engage with the judiciary on issues like fast resolution of commercial disputes and capping adjournments.

“Our effort, along with states, is to eliminate burdensome compliances, or reduce the need for licensing, reduce the regulatory burden, permissions, and rationalise the renewal process. But it only happens when we work together. Self-regulation and self-certification should be the way forward,” the union minister said.

On fast resolution of commercial disputes, Goyal said the government is working on making mediation the preferred mechanism rather than everybody rushing to courts.