Having had the opportunity to register a private limited company in the last month, the improvements in the Ease of setting-up a ‘Business’ in India was fairly visible.
A single set of paper work to get the Corporate Identification, Permanent Account Number (PAN) and Tax Deduction and Collection Account (TAN) was a significant improvement as compared to the experience from 4 years ago.
Digitization of the paper-work and cross-sharing of information across multiple Government organizations has significantly reduced the time taken. The removal of human interaction has been a boon and surely corruption and middle-men have been reduced.
Chartered Accountants, Company Secretaries and their teams have become familiar with the IT systems and all-in-all we are getting THERE.