How India’s economic reforms are paving way for enterprise-led growth
New Delhi, Aug 13 (IANS) As India celebrates its 80th Independence Day, the nation continues to strengthen the foundations of a self-reliant, resilient and growing economy. This is backed by the Union government’s efforts to advance Ease of Doing Business through digital single-window systems, simplified incorporation processes, wider market access, improved access to finance and trust-based regulation, according to an official factsheet issued on Thursday.
National Single Window System (NSWS) digital platform has been rolled out which guides in identifying and applying for approvals according to the business requirements.
The system integrates approvals across 32 Union Ministries and 34 states. It provides access to more than 686 Central and 7,498 state approvals.
Since its launch in 2021, NSWS has granted more than 8.29 lakh approvals.
The Startup India initiative has been launched to support entrepreneurs and build a robust startup ecosystem. It seeks to transform India into a nation of job creators rather than job seekers.
Department for Promotion of Industry and Internal Trade (DPIIT)-recognised startups increased from 502 in 2016 to more than 2.47 lakh as on August 12, the factsheet said.
The SPICe+ web-based form integrates 11 services from 3 Central government Ministries and departments.
The form integrates 10 essential procedures, including name reservation, incorporation, Director Identification Number (DIN) allotment, PAN issuance, TAN issuance, EPFO registration, ESIC registration, Profession Tax registration, Bank account opening, and GSTIN allotment, and First-Time registration of shops and establishment for all new companies getting incorporated in Delhi.
It thereby, reduces procedural burden, saves time and lowers compliance costs for businesses.
The MCA21 Project, a forward-looking, AI-driven initiative significantly enhances transparency in India’s corporate landscape.
The platform is used for end-to-end registry and incorporation related services of companies and limited liability partnerships (LLPs).
Between 2021 and 2025, it processed 3.84 crore filings, with 3.33 crore approved via the Straight Through Process.
Udyam Registration offers a free, paperless, and self-declaration-based system for MSMEs (Micro, Small and Medium Enterprises).
MSME registrations on the Udyam Portal increased from 0.1 lakh in October 2020 to more than 9.27 lakh by August 13.
The Business Reform Action Plan (BRAP) launched in 2015, promotes Ease of Doing Business by simplifying regulations and improving transparency across states and Union Territories (UTs).
It covers reforms across single-window clearances, land, labour, inspections, taxation, environmental approvals and others.
Credit guarantees, digital lending and receivables financing are also widening access to formal finance, particularly for MSMEs.
Pradhan Mantri MUDRA Yojana (PMMY) bridges the gap in financial accessibility, offering collateral-free loans up to Rs 20 lakh to support non-corporate and non-farm income-generating activities.
As on March 27, 2026, the scheme has sanctioned loans worth Rs 40.07 lakh crore through 57.79 crore loans since inception.
A Credit Guarantee Scheme has also been introduced which enables MSEs to access credit without collateral security or third-party guarantees, with support for credit facilities of up to Rs 10 crore.
As of March 2026, Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) had approved cumulative coverage worth Rs 13.67 lakh crore, benefiting 1.41 crore guarantees, the factsheet added.
–IANS
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