National Single Window System for Investors and businesses launched: All you need to know

The Union Minister of Commerce and Industry Piyush Goyal on September 22, 2021, launched the National Single Window System (NSWS) for investors and businesses. While launching the facility, the Union Minister said that the launch of the Single Window System is a giant leap towards Atmanirbhar Bharat.

Piyush Goyal while speaking on the occasion noted that the portal will usher in freedom from the legacy of running to the government offices for registrations and approvals.

Talking about the adverse impact of the COVID-19 pandemic on the Indian economy, Piyush Goyal highlighted that with rapid recovery, India is back on track to become one of the fastest-growing economies. He also mentioned that the National Single Window Scheme (NSWS) will provide strength to other schemes such as Startup India, Make in India, PLI Scheme, etc.

Launched the National Single Window System, a one-stop destination for investors & businesses for approvals & clearances!

The portal enables freedom from legacy of paper work & reduces information asymmetry.#SingleWindowToIndia is a game-changer for governance & business. pic.twitter.com/0DucZ3uWhp

— Piyush Goyal (@PiyushGoyal) September 22, 2021

Significance:

•  The National Single Window System will become a one-stop-shop for investors for clearances and approvals.

•  All the solutions will be there for all at one click of the mouse through ‘End to End’ facilitation.

•  The portal will bring Accountability, Transparency, and Responsiveness to the ecosystem and all the information will be available on a single dashboard.

National Single Window System in India: Key details

•  The National Single Window System as of today hosts approvals across 18 Central Departments and 9 states. Another 14 central Departments and 5 states will later be added by December 2021.

•  An applicant dashboard will be available on the portal to apply, track & respond to the queries.

•  The services on the National Single Window System include Common Registration & State Registration Form, Know Your Approval (KYA), Document Repository & E-Communication.

•  As per the Union Minister, the portal is an enabler for businesses. The Indian Government has worked in partnership with stakeholders, industry, and the people and the collective approach has resulted in game-changing initiatives.

India’s GDP grew over 20%

While speaking about India’s GDP, Union Minister Piyush Goyal said that today India holds the attention of the world and the whole world is looking at the country to rise and claim its rightful place as an economic powerhouse.

Reforms undertaken by PM @NarendraModi ji led Govt. has made India an investor-friendly destination.

FDI inflows grew 62% during first four months of current financial year over same period last year.

Automobile sector emerged as a big winner 🚘

📖 https://t.co/bzk56JMkZU pic.twitter.com/an12VvPFDd

— Piyush Goyal (@PiyushGoyal) September 22, 2021

He further informed that India’s GDP has grown at over 20% in Q1 Financial year 2022 and exports have jumped 45.17%.

The Minister also talked about India’s recent ranking at Global Innovation Index, where the country has jumped to 46th position which is a jump of 35 places in the last 6 years.