Tue Mar 04 13:31:59 UTC 2025: **India Unveils Plan to Slash Red Tape, Boost Business**

**New Delhi, March 4, 2025** – The Indian government announced a major push to streamline regulations and attract both domestic and foreign investment, aiming to transform the country into a globally competitive “seamless, export-friendly” economy. Finance Minister Nirmala Sitharaman, speaking at a post-budget webinar, detailed plans to further reduce regulatory burdens and enhance trust-based governance.

A key initiative is the establishment of a high-level committee tasked with reviewing all non-financial sector regulations, certifications, licenses, and permissions within the next year. This committee’s recommendations will focus on strengthening trust-based economic governance and improving the ease of doing business, particularly concerning inspections and compliance.

The government’s commitment to deregulation is evident in its ongoing efforts to decriminalize business-related laws. Over 42,000 compliance requirements have already been removed, and over 3,700 legal provisions have been decriminalized since 2014. Furthermore, the government plans to introduce the Jan Vishwas Bill 2.0, aiming to decriminalize over 100 more provisions.

Prime Minister Narendra Modi urged Indian industry to seize global opportunities, emphasizing India’s growing reputation as a trusted partner for quality goods. He encouraged businesses to actively participate in the global market rather than simply observing.

The government’s significant investment in infrastructure development, with a proposed capital expenditure of ₹15.48 lakh crore (4.3% of GDP) for the next fiscal year, further supports this initiative, creating jobs and attracting private sector participation. Ms. Sitharaman highlighted this capital expenditure as a crucial driver of economic growth. The webinar was attended by key government officials, regulators, industry representatives, and academics.

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