E-adjudication and e-consultation platforms have been launched by the Ministry of Corporate Affairs (MCA) to facilitate the statutory proceedings and create a business-friendly statutory environment, as per the senior official.
Addressing the Assocham-ACCA Global Summit on Responsible Corporate Governance and Sustainability Reporting, Anita Shah Akella, CEO of the Investor Education and Protection Fund Authority (IEPFA) and Joint Secretary at the Ministry of Corporate Affairs (MCA) highlighted the measures of the government to balance corporate accountability with economic growth.
The objective of e-adjudication and e-consultation platforms is to ease the statutory processes improve the stakeholder experiences and enhance the doing of business in India.
We are proceeding in an era of doing a streamlined business and an ease-of-exit era for businesses, Akella mentioned stressing the devotion of the government to assist the businesses throughout their existence.
Several offences under the Companies Act, 2013, are been decriminalized by the ministry, marking a transformation for the framework that promotes entrepreneurial activity while carrying statutory compliance.
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To prevent anti-competitive practices and promote fair market competition amendments to the Companies Act have been implemented beyond procedural reforms.
Akella mentioned that “India is being positioned as a global destination for investment and business growth. The aim is to attract global players to invest, operate, and generate sustainable profits here.”
MSME Support and Investment Advancement
Akella recognizing the key role of micro, small, and medium enterprises (MSMEs) in the Indian economy, specified the importance of targeted support for the sector to ensure its strong growth.
The initiatives of the government are counted under a more comprehensive strategy to build India as a major destination for global investments while ensuring sustainable and responsible corporate governance.
The reforms are anticipated to not merely ease the statutory compliance but indeed develop confidence among the domestic and international stakeholders showing the roadmap for sustained economic growth.
