Committee for Reforming the Regulatory Environment for Doing Business in India

The Ministry of Corporate Affairs has constituted a committee under the chairman ship of Shri M.Damodaran, former Chairman, SEBI for reforming the Regulatory Environment for doing Business in the country. The committee will conduct an in-depth study in to the entire gamut of regulatory framework and prepare a detailed roadmap for improving the climate of business in India within a period of six months. It is noteworthy that easing of business environment mandates extensive examination of regulations in different areas of root functioning such as financial reforms, governance reforms, liberalized policy framework, process reforms etc.

The other members of the Committee includes Shri Y.C.Deveshwar, Chairman, ITC; Shri Ishaant Hussain, Director, Tata Sons Limited; Shri K.V.Kamath, Chairman, Infosys; Shri Anand Mahindra, Chairman, Mahindra Group; Shri Kumar Mangalam Birla; Chairman Aditya Birla Group; Shri R.K.Pachauri, Vice-Chairman,TERI; Shri Vijai Sharma,Ex-MOEF Secretary; Shri Subas Pani,Former Secretary, Ministry of Rural Development; Shri Amitabh Choudhary, CEO, HDFC Standard Life; Shri Anil Bharadwaj, Secretary General, FISME and Shri P.R. Ramesh, Chairman, Chairman, Deloitte India. Besides, their will be representatives from various Central Minstries such as Corporate Affairs, Finance, Power, Petroleum, Highways, Commerce, Industry and Urban Development.

The constitution of committee follows a recent Report of World Bank and the International Finance Corporation, entitled “Doing Business 2012: Doing Business in a very transparent World” that ranks india in the 132nd position among the sample of 183 countries.