A Parliamentary panel has suggested several steps such as urgent requirement to reduce procedures and time period for registration of a company in order to improve India's ranking in ease of doing business. 
It has recommended measures an all the 10 parameters, whose performances was evaluated by the World Bank to prepare the ease of doing business report. 

The parameters include starting a business, dealing with construction permits, paying taxes, and getting credit.

The government has made provisions with an intent to provide greater flexibility to the vendors in offset contracts. The government has also reinstated services as an avenue for discharge of offset obligations and provided a level playing field to Indian vendors in Capital acquisitions to boost ' Make in India'.

The vendor can now finalise his IOPs and offset product details one year prior to the intended offset discharge, or can even undertake the offset activity and submit claims thereafter. This will facilitate vendors to finalise a more realistic offset offer.

Despite a number of changes this year to the Companies Act, 2013, which itself has replaced over 60-year-old legislation, the industry remains an unsatisfied lot and wants many more amendments to make it easier to do business here. Corporate Affairs Ministry is gearing up for more changes in 2016 to the voluminous Companies Act and bring in further clarity on the CSR spending norms.

Legacy seems to be a tough nut to crack as multiple committees, their recommendations and incessant stakeholder pleas continued to loom large over the new companies’ law.

PM Narendra Modi has been travelling far and wide to invite foreign companies to invest and ‘Make in India’ with an assurance that doing business in India is going to be made far easier than it has been so far.

‘Make in India’, ‘Defence Indigenisation’, ‘Self-reliance’ and ‘Digital India’ are great slogans for creating the hype, and also causes the hungry Indian businesses to salivate. If our PM is serious about enabling and empowering Indian businesses to play in the competitive global market place, everything boils down to competitive costs, whether for local consumption or exports.

In another attempt to improve the ease of doing business, the government on Monday introduced the 'Insolvency and Bankruptcy Code, 2015' in Parliament that provides for resolution of insolvency within a time frame.

The bill is aimed at promoting investments, which will lead to higher economic growth. Also, it provides for setting up of an 'Insolvency and Bankruptcy Board of India' which will regulate professionals, agencies and information utilities engaged in resolution of insolvencies of companies, as well as partnership firms and individuals.

Currently, there is no law that specifically deals with insolvency and bankruptcy. Liquidation of Companies is handled by the High Courts, individual cases are dealt with under the Presidency Towns Insolvency Act, 1909 and Provincial Insolvency Act, 1920.

In a step that would redefine 'industries' and come as a huge relief to hundreds of small and medium-scale entrepreneurs of Delhi and its neighbouring areas, the Aam Aadmi Party government in Delhi has decided to allow service sectors, IT-enabled and knowledge-based industries in all industrial areas within the capital's jurisdiction.

The Delhi government order will, however, allow industries like software, IT service, ITES (includes call centres, finance and accounting, Human Resource services and other consulting services), research and development, designing, business services such as tourism and legal services, as well as education services such as vocational training centres, media industry among others, to operate in the industrial areas of Delhi now on.

The order, issued recently by the state department of industries, resonates with the Centre's call for improving the ease of doing business in the country.

These initiatives include ease of registration of the business in the form of Udyog Aadhar Memorandum, Framework to revive sick MSMEs, promoting innovation in rural entrepreneurship through ASPIRE scheme, fund for regenerating traditional industries, financial support in the form of credit guarantee and credit linked capital subsidy.

During the current financial year (April to October 2015), 1,195 units benefitted and total subsidy released to the tune of Rs. 75.57 crore.

The Minister informed that a downstream industry policy is being formulated. The IPR also has identified priority sectors and drawn up a comprehensive plan for MSME, he said. “Odisha’s GSDP has remained above the national average and manufacturing sector that contributes around 9 per cent to state GDP would further rise to 15 pc by 2019, with the proposed 1.73 lakh crore worth of investment coming to the state. By 2022, we have an all India target to reach it to 22 per cent. As a result, around 3.3 lakh direct and indirect employment will be created in the state,” he stated.

Mishra said Odisha is ranked 7th in the country when it comes to ‘Ease of Doing Business’ and it intends to reach the top position soon. Formulation of Industrial Policy Resolution – 2015 would definitely boost the economic climate of the state, he said.