The government has prepared a five-phase road map to ease the regulatory and compliance burden faced by companies, and has identified at least eight sectors, including retail, hospitality, entertainment, cement, leather, and food processing, which have to comply with hundreds of legislative and regulatory requirements at present.
In the first phase, most of the outdated regulations in the state and central Acts will be removed. Further, compliances with regard to annual inspections, licence renewal, and storage of multiple data will be eased.
To make it effective, the Department for Promotion for Industry and Internal Trade (DPIIT) is coordinating and working with various