Govt Eyes 15-Year Licences in Big Push to Cut Red Tape
What Happened
The Centre is considering a major overhaul of India's licensing regime by extending the validity of key licences, including those related to environment, drugs, explosives, and BIS certifications, to 10-15 years. The move aims to reduce compliance burdens, cut renewal-related paperwork, and shift towards a more trust-based regulatory framework for businesses.
Key Takeaways
If implemented, the reform could significantly improve ease of doing business by reducing regulatory red tape, while allowing firms to focus on operations instead of frequent licence renewals. Businesses would still pay annual fees, but without repeatedly applying for renewals.