PM Narendra Modi Friday said that the government plans to do away with more than 6,000 compliance requirements. These pertain to businesses at the central and state levels to facilitate ease of doing business in India.
PM Modi was addressing a webinar on the production-linked incentive (PLI) scheme.
The government is identifying redundant rules in state and central laws that to remove for reducing compliance burden for companies operating in India.
PM Modi said that the government will emulate the examples of successful countries in accelerating development by increasing manufacturing capacities.
So far, the government has announced 13 PLI schemes worth rupees 1.97 trillion in sops. This will boost local manufacturing with an aim to produce about $520 billion in India in next five years.
These PLI schemes in information technology hardware and telecom gear manufacturing will increase production and domestic value addition.