What is a business grand challenge?
The Prime Minister, Shri Narendra Modi, launched the Ease of Doing Business Grand Challenge at an event in Lok Kalyan Marg in New Delhi on 19th Nov’2018.
The objective of this challenge is to invite innovative ideas based on Artificial Intelligence, Internet of Things, Big Data Analytics, Blockchain and other cutting edge technology to reform Government processes. The platform for the Grand Challenge is the Startup India Portal.The objective of this challenge is to invite innovative ideas based on Artificial Intelligence, Internet of Things, Big Data Analytics, Blockchain and other cutting edge technology to reform Government processes. The platform for the Grand Challenge is the Startup India Portal.
The Prime Minister said that the aim is to make India a 5 trillion dollar economy in the shortest possible time. He recalled that when he had first articulated his vision for India to break into the Top 50 in Ease of doing business rankings in the years to come, it was greeted with skepticism. He added, however, that a great improvement is now visible in just four years. He said the Ease of doing business rank has improved by 65 spots in this period. He said India now ranks first in South Asia, and is just some steps away from the Top 50 target. He said that the Union and State Governments have both worked together towards improving EoDB, in the spirit of cooperative, competitive federalism.
- He said, today small entrepreneurs can do business more easily, and simple things like getting an electricity connection have got easier.
- Dramatic reductions have been achieved in areas such as time taken for resolution of commercial disputes, and time taken for clearing imported goods.
- He listed a number of other areas, where great improvements have been made.
- He mentioned the efforts made for the MSME sector, such as approval for loans upto Rs 1 crore in 59 minutes.
The Prime Minister said that it is necessary to reduce human intervention in processes, and increase the use of modern and digital technologies. He said that a work culture based on this, will further promote policy driven governance.