Single-window portal for investors launched

Subject – Economy

Context – Piyush Goyal, Commerce and Industry Minister, on Wednesday launched the single-window portal for investors and businesses.

Concept –

Piyush Goyal, Commerce and Industry Minister, on Wednesday launched the single-window portal for investors and businesses.
The portal will serve as a one stop-shop for investors for approvals and clearances.
The National Single Window System (NSWS) will usher in a change from the legacy of running to government offices and will promote the ease of doing business.
The portal, as of today, hosts approvals across 18 Central Departments and nine States, and another 14 Central Departments and five States will be added by December 2021.
NSWS will provide end-to-end facilitation and support to investors, facilitate clearances at the Centre and State levels, provide pre-investment advisory to new businesses, and share information related to land banks.
It seeks to address information asymmetry, duplication of information submitted across platforms and authorities, and inefficient tracking of approvals and registration faced by investors.
All solutions for businesses will be provided at the click of the mouse through ‘end-to-end’ facilitation and information needed will be available on a single dashboard, bringing transparency, accountability and responsiveness in the ecosystem.
The dashboard can be used to put in applications and also track and respond to queries. The services available include Know Your Approval (KYA), common registration and State registration forms, document repository, and e-communication.