India's NSWS, a game-changer for growing investment: Commerce Ministry

NSWS will usher in freedom from the legacy of running to different government offices for approvals and registrations, Piyush Goyal, minister for commerce and industry, textiles, consumer affairs and public distribution, had said earlier in September this year..

Currently, i.e., as of December 2022, the Know Your Approvals (KYA) Module, a pre-investment advisory is live with more than 4,011 approvals across 32 states/union territories (UT) and 595 approvals across 32 central ministries/departments. Further, 249 out of 376 approvals on-boarded across 27 ministries/ departments are enabled to be applied through the NSWS portal.

Using process optimisation and technology, investing in India is slated to become easier for which various schemes under the Indian Footwear and Leather Development Programme (IFLDP) are live under the NSWS portal.

Currently, the NSWS portal has about 3.7 lakh unique visitors including 54,000 plus active users, as per the ministry’s year-end review.

NSWS is facilitating as a technology accelerator for establishing a single source of information for central and states approvals, schemes, registrations, clearances, etc for businesses across sectors, and size. Through a single unified application form, the investors are able to apply for multiple clearances and also monitor the status of their applications through the investor dashboard. The investors can also raise queries and grievances on the portal.

NSWS will also fast-track implementation of special schemes such as Production Linked Incentive (PLI) Schemes for sector-wise bundling of both central and state government approvals, integration of all regulatory approvals/clearances as well as renewals.

Fibre2Fashion News Desk (DP)