In an attempt to improve India’s ease of doing business, Prime Minister’s office (PMO) has made an interesting step by outreaching the top global consultancy McKinsey and several other multi-national corporations (MNCs) operating in India. The meeting was with regards to lessen the burden of regulations governing trade in India, three people who attended the meeting told Economic Times.
The meeting was led by McKinsey’s senior partner Alok Kshirsagar and his team on ideas to improve business ways in India, according to the report in ET. Top-notch bureaucrats of PMO attended the meeting along with top executives of Indian subsidiaries of Boeing, Unilever, ABB, Vodafone and Coca-Cola on September 24.
Sunil Sood from Vodafone, Pratyush Kumar from Boeing India, Sanjiv Mehta of Hindustan Unilever, Venkatesh Kini from Coca-Cola, Sanjeev Sharma of ABB, Ranjit Sahani from Novartis joined Nripendra Misra, Principal Secretary at the PMO, Amitabh Kant, CEO of Niti Aayog and Joint secretaries, TV Somanathan and Anurag Jain attended the meeting.
According to sources of Economic Times, the digitization of labour law compliance along with extending Modi’s self-certification initiative for individuals and companies were the top issues in agenda of the meeting.
The meeting also focused on options available to streamline onerous compliance processes, eliminating paperwork and obsolete processes. It also discussed ways to resolve inconsistencies across ministries along with need to sort out differences in Indian and global standards, the report said.
Economic Times report says that one of the senior bureaucrats refrained from commenting on the meeting claiming it to be in “early days yet,” while two CEOs said that the discussions were confidential. According to the report, Misra is said to have assigned tasks to his bureaucrat colleagues for a time-bound plan and directed them to take “rapid action” on the prioritised items.
The plan which engaged everyone, according to the report, was to rationalize central and state procedures by simplifying and digitising labour law compliance. It is being considered to eliminate the use of physical registers at factories and service enterprises and developing clear guidelines by widening the usage of Shram Suvidha portal for all central labour laws to as a single online window.
As PMO will keep a close eye on the matter, the principal secretary will conduct a review in 30 days, report said.