Committee for Reforming Regulatory Environment for Business in India
THE report of The World Bank and the International Finance Corporation, entitled “Doing Business 2012: Doing business in a very Transparent World", India has been ranked at a low of 132 amongst a sample of 183 countries, although there is a seven point improvement over2010 ranking of 139. However, India continues to lag behind even the BRIC and SAARC countries on most of the parameters.
Government feels that there is a need to conduct an in-depth study into the entire gamut of regulatory framework and come out with a detailed road map for improving the climate of business in India in a time bound manner. Such an exercise needs to be undertaken for periodical improvement in the ranking, leading to a situation where India gradually moves towards upward position with almost zero hassles.
To achieve this, it has been decided to constitute a Committee to conduct this study and prepare a detailed report within aperiod of six months. The Committee chaired by former SEBI Chief Damodaran has ITC Chairman Y C Deveshwar, Tata Sons Director Ishaat Hussain, Infosys Chairman Kamath and 17 other Members.
MCA General Circular No. , Dated: August 23, 2012