Aiming to make it easier to do business in India, the government is planning to set up a 'corporate call centre' for faster information dissemination and grievance redressal services to companies and other stakeholders.
The Corporate Affairs Ministry is targeting to set up this call centre by as early as September. It will be called 'Corporate Seva Kendra'.
As per an internal Ministry document, this call centre would provide a wide range of information to the stakeholders and would answer their queries about corporate filings, information and statutory requirements.
The 'Corporate Seva Kendra' is being set up as part of the Ministry's objective to put in place a system for "online delivery of all registry related services with speed, certainty and transparency".
The proposed centre is part of the Ministry's target agenda for the next fiscal 2013-2014.
The initiative is part of the government's efforts to strengthen interactions with corporates and ensure faster compliance with various requirements, amid concerns over the companies finding it difficult in doing business.
As per an 'Ease of Doing Business' ranking of the World Bank, India is placed very low at 132nd position among a total of 185 countries.
India is the lowest ranked country on this list among the four BRIC nations (Brazil, Russia, India and China); it is also ranked lower than Pakistan and Nepal.
Corporate Affairs Minister Sachin Pilot had told PTI in an interview in December that regulations should act as enablers for investments, and should not be draconian in nature. Mr Pilot has advocated for steps to make India a safer and better place for investment.
Among others, a Ministry-appointed panel, headed by former Securities and Exchange Board of India (SEBI) chief M Damodaran, to look into ways to improve the country's business climate is expected to submit its report by end of this month.
In the next fiscal beginning April 1, the Ministry will also look at simplifying laws that govern draft of rules to facilitate effective compliances by corporates and ensure enlightened regulatory regime.
To create more awareness among corporates as well as investors, the Ministry is already carrying out various initiatives.