Revised Framework for Discussion on Priority Areas

Let us take one more day tomorrow Sir and give inputs on Doing Business Issues. Then we can root cause and find solutions. more  

please make centralised decision for classification of problems/suggestions/improvements so that your task of compiling will be easier and writers will confine themselves to the head of the topic more  

That is a good point Sreevidya about winning NRI confidence, their capital and their mindshare back into India. more  

Make Doing Business in India Easy: Reform Regulatory Regimes affecting Small and Medium Businesses for Investors including the NRIs Problem Statement: Currently when NRIs like me want to come back to India and settle down, we try to bring our money, lock it up somewhere as dead capital and try to live on the interest income. We don’t feel secure enough to invest our hard earned money from abroad into ventures that would either not succeed or would stall eternally due to the red-tapes involved. We neither have the time, nor the energy to run behind politicians and bureaucrats to get the whole thing going. In fact, if conditions were easy, we would actually start businesses years before we eventually want to return to India Root cause analysis (5-step model of Root Cause Analysis) Not enough WILL to invest now due to – fear of risking life-earnings due to – the red tapes involved and the business thriving conditions on an ongoing basis due to – the lack of productivity focus in business approval system and ongoing interference from regulations and regulators due to – regulatory system is not pro-business, pro-economy, not opened up to productive growth – survives on “this is how it is done” approach Solution: Solutions below, like any of my earlier ones can be carried out by the existing government machinery, with the help of advisors and experts. There is no need to set up separate commissions to review reform situations. The business regulations, especially those affect the small and medium businesses NRIs can start up individually or in clusters should be reformed. Rules and regulations should ensure unfair practices being curbed and no real risk to the public. However, decision making and ongoing regulatory regime should be outcome-based rather than process driven as it is today. I have been away from the country for so long, that I do not even remember the multitude of regulatory interventions I had to consider that thwarted a previous attempt start a business in India. As a first step, identify the various regulatory regimes that regulate the small, medium and large businesses and apply a real-time based outcomes framework and identify un-productive or counter-productive regulations and interventions. Remove them and streamline regulation including taxation in such a way that everyone in the chain – Government which acts for the public, the investors, and their employees, and the consumers, all are benefited from this approach. New Zealand and Canada are pioneers in reforming their regulatory regimes, and I have worked closely with New Zealand Government and am familiar with how the regulatory regimes are turned around to ensure international best practices, outcome based, futuristic, and collaborative regulation of industries and businesses. Happy to volunteer time for Mr. Modi’s reforms. more  

Make Doing Business in India Easy: Reform Regulatory Regimes affecting Small and Medium Businesses for Investors including the NRIs Problem Statement: Currently when NRIs like me want to come back to India and settle down, we try to bring our money, lock it up somewhere as dead capital and try to live on the interest income. We don’t feel secure enough to invest our hard earned money from abroad into ventures that would either not succeed or would stall eternally due to the red-tapes involved. We neither have the time, nor the energy to run behind politicians and bureaucrats to get the whole thing going. In fact, if conditions were easy, we would actually start businesses years before we eventually want to return to India Root cause analysis (5-step model of Root Cause Analysis) Not enough WILL to invest now due to – fear of risking life-earnings due to – the red tapes involved and the business thriving conditions on an ongoing basis due to – the lack of productivity focus in business approval system and ongoing interference from regulations and regulators due to – regulatory system is not pro-business, pro-economy, not opened up to productive growth – survives on “this is how it is done” approach Solution: Solutions below, like any of my earlier ones can be carried out by the existing government machinery, with the help of advisors and experts. There is no need to set up separate commissions to review reform situations. The business regulations, especially those affect the small and medium businesses NRIs can start up individually or in clusters should be reformed. Rules and regulations should ensure unfair practices being curbed and no real risk to the public. However, decision making and ongoing regulatory regime should be outcome-based rather than process driven as it is today. I have been away from the country for so long, that I do not even remember the multitude of regulatory interventions I had to consider that thwarted a previous attempt start a business in India. As a first step, identify the various regulatory regimes that regulate the small, medium and large businesses and apply a real-time based outcomes framework and identify un-productive or counter-productive regulations and interventions. Remove them and streamline regulation including taxation in such a way that everyone in the chain – Government which acts for the public, the investors, and their employees, and the consumers, all are benefited from this approach. New Zealand and Canada are pioneers in reforming their regulatory regimes, and I have worked closely with New Zealand Government and am familiar with how the regulatory regimes are turned around to ensure international best practices, outcome based, futuristic, and collaborative regulation of industries and businesses. Happy to volunteer time for Mr. Modi’s reforms. more