NSWS Streamlines Approvals, Facilitating 4.81 Lakh Clearances
The government announced a significant milestone for the National Single Window System (NSWS) on Friday. As of October 14, the platform had processed an impressive 7.1 lakh approval applications, granting 4.81 lakh approvals across diverse sectors. These approvals encompass a wide range of areas, including crucial domains like foreign direct investment (FDI), petroleum-related services, hallmarking, and start-up registrations. The NSWS, a pioneering initiative, integrates the clearance systems of numerous ministries and departments, both at the central and state levels, effectively streamlining the approval process for businesses and fostering a more conducive business environment.
India’s FDI Inflow Surges to $991 Billion
The Department for Promotion of Industry and Internal Trade (DPIIT), in its year-end review, highlighted India’s remarkable performance in attracting foreign direct investment (FDI). Since the year 2000, the nation has garnered a substantial $991 billion in FDI, with a noteworthy 67% of this inflow occurring within the last decade (2014-2024). This substantial surge in investment underscores India’s burgeoning appeal as a preferred global investment destination, driven by a host of factors including robust economic growth, a burgeoning domestic market, and a skilled workforce.
PLI Schemes Fuel Growth and Employment
The DPIIT also reported significant strides in the implementation of Production Linked Incentive (PLI) schemes across 14 key sectors. These visionary schemes have spurred substantial investments, totaling Rs 1.46 lakh crore. Furthermore, they have catalyzed production and sales worth Rs 12.5 lakh crore, generated exports valued at Rs 4 lakh crore, and created employment opportunities for a considerable workforce of 9.5 lakh individuals.
Government Initiatives Drive Economic Growth
The government’s concerted efforts to streamline approvals through the NSWS, attract substantial FDI, and support key industrial sectors through impactful PLI schemes are playing a pivotal role in propelling India’s robust economic growth. These initiatives are collectively positioning the nation as a major player on the global industrial stage, attracting significant investments, fostering innovation, and creating a thriving ecosystem for businesses to flourish.
