The government is working on to reduce compliance issues with a focus on ease of doing business and has introduced the Insolvency and Bankruptcy Code ( IBC ) keeping that in mind, the principal economic advisor with the Department for Promotion of Industry and Internal Trade, Rupa Dutta, said. Speaking at an event organised by MCCI here, Dutta said the government is taking steps for a prospective future and measures are needed to sustain the growth momentum as India is now the fastest growing economy in the world. India’s “rank in ease of doing business according to World Bank report has improved from 142 in 2014 to 63 in 2022 and reduction in compliances is now a major focus. The IBC introduced by the government is comparable to OECD countries,” she said. The Organisation for Economic Co-operation and Development (OECD) has 38 countries across the globe as members. Dutta said that the national logistics policy is a key priority area for the government as it will bring down logistics costs and the Prime Minister Gatishakti programme will help in holistic planning for infrastructure projects. The country’s exports, now at around USD 400 billion, are expected to touch USD one trillion… Read full this story
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