Media

Budget 2023: Will small businesses’ expectations fulfilled this time; here’s key points

https://businessconnectindia.in | Anurag Tiwari | Jan. 30, 2023

Over the course of the last six years, DPIIT has recognised more than 84,000 businesses under the Start Up scheme, creating employment for more than 0.86 million individuals in India. Although the existing system has numerous advantages, entrepreneurs still have to deal with a number of real-world problems. Union Budget 2023 should take into consideration increasing the “Tax Exemption” period from 3 years to 5 years without limiting the number of years within which a start-up can enjoy or claim the exemption. According to Sandeep Agrawal, director and co-founder of Teamlease Regtech, start-ups are now unable to take use of this benefit, as evidenced by the fact that only 993+ enterprises out of more than 84,000 businesses have done so.

Budget 2023 Expectations Highlights: Tamil Nadu textile industry seeks export incentives in wake of Ukraine crisis, Europe slowdown

https://economictimes.indiatimes.com | Economic Times Live Blog | Jan. 24, 2023

Union Budget 2023 shall aim at policies and reforms which can significantly boost domestic demand and consumption. There are many ways to achieve this objective but considering constantly increasing urban salaried jobs, one of the important steps which the current Government shall pursue is revisions to the tax slabs for individual taxpayers. I believe that the current Government will consider implementing the Direct Tax Codes and significantly enhance the tax slabs for Individuals (10% up to INR 10 Lakhs, 20% up to INR 20 Lakhs and 30% in excess of INR 20 Lakhs). These slabs will significantly reduce the tax liabilities for Individuals and will lead to increase in in-hand surplus and spending power of consumers which in turn will result in increased demand and higher economic growth

Startup India Action Plan 2O16: the Hits And Misses

https://www.entrepreneur.com | S Shanthi | Jan. 20, 2023

Self-Certification based Compliance Regime is aimed at reducing the compliance burden of startups. Entrepreneurs are often unaware of the regulatory obligations of their new businesses. This can result in these enterprises being subjected to intrusive actions by regulatory agencies. Self-certification simplifies the compliance process and makes it flexible and friendly. Startups can self-certify for their compliance obligations under the 9 labor and 3 environment laws for 3 to 5 years," Rishi Agrawal, CEO and co-founder, TeamLease RegTech.

Tectonic Shift In The Fintech Sector After RBIs Recent Digital Lending Guidelines

https://www.cioandleader.com | Rishi Agrawal | Jan. 20, 2023

The Indian Fintech sector is leading the global Fintech revolution accounting for over 40% of the world’s digital transactions. It has emerged as a disruptive sunrise industry that is set to make financial services accessible, simple, and cost-effective. The industry clocked more than 74 billion transactions in 2022. This technology-led innovation is making banking and credit services available to the underbanked and unbanked. Recently, the country has seen a proliferation of fintech start-ups offering a suite of financial services digitally. These start-ups typically collaborate with a Regulated Entity (conventional financial institutions) and offer similar services via digital technologies. However, they fell outside the purview of RBI regulations leading to instances of mis-selling, breaches of privacy, unfair business practices, exorbitant interest rates, and unethical recovery practices.

Budget 2023 : Indian shadow lenders call for rescue route from cumbersome compliance maze

https://economictimes.indiatimes.com | ET Online | Jan. 19, 2023

Union Budget 2023: Most NBFCs believe they don’t have the required visibility and control in their organization's compliance program, according to report from TeamLease Regtech. The compliance challenge also abates NBFCs expansion process. The ad-hoc, paper-based, and people-dependent processes fail to scale due to these compliance codes. India's upcoming Budget thus has a task in hand to ease the cumbersome compliance burden.

NBFC's have performed well in providing loans to unbank and underbanked sections TeamLease RegTech Report

https://startup.outlookindia.com | Outlook Startup Desk | Jan. 19, 2023

According to the report, more than 9000 registered NBFCs in India provide credit services to the underserved sections of the economy. These institutions have performed well in deepening credit to the underbanked and the unbanked sections of society. The report also highlights that compliance management remains a massive challenge due to the lack of an accurate and updated list of applicable compliance. It cites that 94 per cent of the compliance officers at NBFCs believe they don’t have the required visibility and control in their organization's compliance program.

92% NBFCs Missed At Least One Critical Compliance In 12 Months: Survey

https://www.businessworld.in | Business World | Jan. 19, 2023

Rishi Agrawal, CEO, Co-founder, TeamLease Regtech said, “The NBFC sector is one of the key drivers of growth in the Indian economy. It serves a section of society that is not usually catered to by commercial banks. The report delves into the regulatory ecosystem of NBFCs to give readers an insight into the complexity of the compliance landscape. Agrawal added that it points out the challenges and inefficiencies in the present compliance processes adopted by these financial institutions. It also proposes recommendations that will allow these companies effectively manage their compliance obligations with the help of digital processes.”

After China+1, global corporations now mull over ‘Minus China’

https://economictimes.indiatimes.com | Shariq Khan | Jan. 18, 2023

Global manufacturers are considering plans to completely withdraw from China as issues related to Covid, labour and geopolitical tensions make the “world’s factory” less and less attractive. If India can quickly grab the opportunity, it can position itself as the next factory of the world.

NBFCs struggle to manage compliance obligations. Here's a guideline to get rid of it

https://www.livemint.com | Saurav Mukherjee | Jan. 18, 2023

Commenting on the report – simplifying compliance management for NBFCs in India, CEO and co-founder of TeamLease Regtech Rishi Agrawal said, "The NBFC sector is one of the key drivers of growth in the Indian economy. It serves a section of society that is not usually catered to by commercial banks. The report delves into the regulatory ecosystem of NBFCs to give readers an insight into the complexity of the compliance landscape."

Industry leaders celebrate ‘National Startup Day’ today | Top quotes

https://www.livemint.com | Alka Jain, Sourav Mukherjee | Jan. 17, 2023

The Indian startup ecosystem ranks 3rd globally and has seen tremendous growth in the past decade. We now have more than 77,000 registered startups with over 100 unicorns. Looking beyond these numbers we find an intricate and dynamic web of laws and compliances that have to be complied with by these enterprises. A total of 1,536 acts and 69,233 compliance requirements govern doing business in India.

Industry leaders celebrate National Startup Day: Here’s what they said

https://timesofindia.indiatimes.com | Times of India | Jan. 17, 2023

In 2022, Prime Minister Narendra Modi announced that January 16th would be celebrated as National Startup Day to promote the startup culture at the grassroots level. India is known as a hub for startups, and government initiatives like this one help to further encourage innovation across various sectors. To celebrate National Startup Day and the Indian startup ecosystem, the Department for Promotion of Industry and Internal Trade (DPIIT), within the Ministry of Commerce and Industry, is organizing the Startup India Innovation Week. The initiative will bring together successful entrepreneurs to collaborate, innovate, and excel. Here are some views from startup founders on this special day.

Industry leaders celebrate National Startup Day: Here’s what they said

https://timesofindia.indiatimes.com | Times of India | Jan. 17, 2023

In 2022, Prime Minister Narendra Modi announced that January 16th would be celebrated as National Startup Day to promote the startup culture at the grassroots level. India is known as a hub for startups, and government initiatives like this one help to further encourage innovation across various sectors. To celebrate National Startup Day and the Indian startup ecosystem, the Department for Promotion of Industry and Internal Trade (DPIIT), within the Ministry of Commerce and Industry, is organizing the Startup India Innovation Week. The initiative will bring together successful entrepreneurs to collaborate, innovate, and excel. Here are some views from startup founders on this special day.

Ending factory tyranny

https://www.financialexpress.com | Manish Sabharwal & Rishi Agrawal | Jan. 16, 2023

The divergent regulatory regime for manufacturing and services is a wonder- ful natural experiment that shows how good intentions can create painful and unintended consequences. Manufactur- ing only employs 11% of our labour force, the same as post-industrial America.The Factories Act of 1948 is a Central Act that combines with State Factory Rules to cre- ate excessive regulatory cholesterol for factories like Tata Motors, while TCS com- plies under the Shops and Establish- ments Act. The best way to understand the divergence between a software employer with 10,000 employees and a factory with 100 employees in Maha- rashtra is to dive into specifics.

Friend, the idea is good in the mind, but how to start...' Do you also have this problem? Learn startup tips from experts

https://navbharattimes.indiatimes.com | Rajesh Bharti | Jan. 15, 2023

Learn the steps to turn your idea into a successful startup in this blog post from Navbharat Times. Discover the key elements of idea validation, market research, and business planning to turn your vision into a reality. Whether you're a budding entrepreneur or simply curious about the startup process, this article offers valuable insights and practical tips for turning your idea into a thriving business.

Disrupting the startup ecosystem, these startups were at peak of their game in 2022

https://www.cxotoday.com | Narasimha Raju | Dec. 30, 2022

TeamLease RegTech is India’s leading regulatory technology company helping corporate India stay on the right side of the law. It enables a transparent, timely, and accountable compliance program for over 1500 entities across 45 industries in India. Co-founded by Sandeep Agrawal & Rishi Agrawal, TeamLease RegTech has developed a multi-tenant SAAS solution on web and mobile platforms with smart analytics to help corporate India comply. Read more at: https://www.cxotoday.com/specials/disrupting-the-startup-ecosystem-these-startups-were-at-peak-of-their-game-in-2022/

Disrupting the startup ecosystem, these startups were at peak of their game in 2022

http://businessnewsthisweek.com | Mansi Praharaj | Dec. 30, 2022

Recently, a solution developed by TeamLease RegTech was launched by SEBI Chairperson Madhabi Puri Buch. This initiative with FICCI (Federation of Indian Chambers of Commerce & Industry) is a milestone event towards a paper-less, cash-less, and presence-less compliance.

Disrupting the startup ecosystem, these startups were at peak of their game in 2022

https://fyi9.com | Prateek Harshwal | Dec. 29, 2022

Rishi Agrawal co-authored a report Jailed for doing business. This monograph by the Observer Research Foundation and TeamLease RegTech presents a deep dive into ingrained criminality and jail term in India’ employer compliance. This report is being leveraged by Policy Makers in India to reduce criminality as a tool of control. Recently, a solution developed by TeamLease RegTech was launched by SEBI Chairperson Madhabi Puri Buch. This initiative with FICCI (Federation of Indian Chambers of Commerce & Industry) is a milestone event towards a paper-less, cash-less and presence-less compliance.

By 2026, India’s digital economy is expected to be worth $1 trillion. Data protection bill paving the way?

https://timesofindia.indiatimes.com/ | Rishi Agrawal | Dec. 29, 2022

We’ve seen our country’s consumer digital economy go through a 370% YoY growth in PE/VC (Private Equity/ Venture Capital) investments last year. The FoodTech market is expected to reach $1,515 billion by 2026 with a growth rate of 30% CAGR. It will be closely followed by the growing online grocery market which shows a potential of $1,311 billion in the same timeframe. This will fuel the digital payment sector and see it cross $1 trillion in transaction volume. It is forecasted that 44% of the payments will be through payment gateways and aggregators, 34% through QR codes, and 22% through POS (Point of Sale) machines.

Top 5 Compliance Challenges for Automobile Companies

https://www.financialexpress.com | Rishi Agrawal | Dec. 26, 2022

Post the pandemic downturn, the automobile industry has experienced a noticeable surge in industry consumption. It is further anticipated to show substantial positive growth over the next few years. While the robust interest rates continue to uphold investment optimism within the automobile sector, certain key challenges remain intact.

75-year-old laws impeding ease of doing business in India: Expert

https://thefederal.com | The Federal | Dec. 24, 2022

The interview titled The core of our regulations was framed during colonial times In the story Mr. Rishi Agrawal CEO and Co-founder Teamlease Regtech is interviewed by Mr. K Giriprakash Business Editor, The Federal

Significance of Technology Infrastructure in optimizing Compliance Processes

https://www.expresscomputer.in | Sandeep Agrawal | Dec. 19, 2022

Technology is transforming the way we manage our day-to-day routines including our health, education, etc., and has also redefined the way businesses are managed today. In the last 5 decades, technological innovations for businesses can be classified into three phases. Sandeep Agrawal 1. Enterprise Applications; Introduced in the 1980s, these solutions were designed for specific business functions with limited applications. For Ex; Tally helped businesses shift from paper-based accounting (Bahi-Khata). 2. Business Process Management Suite; Introduced in the 2000s by Gartner, is referred to as enterprise solutions to automate repetitive activities and offer analytical capabilities. 3. Digital Process Automation; These solutions combine human elements with different software applications whilst using technologies like AI, ML & RPA. For example; Bank Account opening through a Mobile App with minimal manual engagement is a classic example.

Missed Advance Tax Payment On December 15? Now, Pay 1% Monthly Interest

https://www.outlookindia.com | Neelanjit Das | Dec. 17, 2022

According to Sandeep Agrawal, director and co-founder, Teamlease Regtech, a Maharashtra based compliance management software company, "I believe that the existing income tax system is not falling short but for sure the same can be further strengthened. The Regulator can consider strategy adopted by GST department in terms of the constant reminders / escalations to the assessee via emails and messages. This practice at least reminds the people for timely compliances. Although, all the Individuals / businesses are not required to pay advance Tax, still sending reminder emails / messages to everyone, provide a proactive intimation to the relevant assessee for the compliance requirement."

Start-up compliance load

https://www.telegraphindia.com | Sandeep Agrawal | Dec. 12, 2022

Compliance and regulatory requirements still remain a major challenge for start-up companies in India even as their numbers are on the rise. Sandeep Agrawal, director, and co-founder of Teamlease Regtech, while highlighting some of the challenges said that there is still scope to refine the compliance requirements for the early-stage companies and improve the ease of doing business.

Debates, deficits & 4.88 crore pending court cases

https://www.newindianexpress.com | By Shankkar Aiyar | Dec. 11, 2022

The rise in the number of cases also signals the need to clean up the legislative and regulatory landscape Rishi Agarwal of Avantis Regtech who tracks regulatory compliances points out that businesses are required to comply with 1,536 laws, 69,233 compliances and 6618 filings. There are 843 laws at the Centre and the States with over 26000 compliances which carry the threat of imprisonment. Juxtapose this on the multiplicity of ministries in any one domain – water for instance is governed by six ministries, health care by multiple ministries in the state and in the union government.

Top five businesses supporting the government’s aim of “Digital India”

https://www.cxotoday.com | CXO Today | Dec. 8, 2022

TeamLease RegTech is India’s leading regulatory technology company helping corporate India stay on the right side of the law. It enables a transparent, timely, and accountable compliance program for over 1500 entities across 45 industries in India. Co-founded by Sandeep Agrawal & Rishi Agrawal, TeamLease RegTech has developed a multi-tenant SAAS solution on the web and mobile platforms with smart analytics to help corporate India comply. Rishi Agrawal co-authored a report Jailed for doing business. This monograph by the Observer Research Foundation and TeamLease RegTech presents a deep dive into ingrained criminality and jail term in India’s employer compliance. This report is being leveraged by Policy Makers in India to reduce criminality as a tool of control. Recently, a solution developed by TeamLease RegTech was launched by SEBI Chairperson Madhabi Puri Buch. This initiative with FICCI (Federation of Indian Chambers of Commerce & Industry) is a milestone event towards paperless, cash-less, and presence-less compliance.

Top five businesses supporting the government’s aim of “Digital India

https://www.gadget-innovations.com | TECHNOVATION360 | Dec. 6, 2022

TeamLease RegTech is India’s leading regulatory technology company helping corporate India stay on the right side of the law. It enables a transparent, timely, and accountable compliance program for over 1500 entities across 45 industries in India. Co-founded by Sandeep Agrawal & Rishi Agrawal, TeamLease RegTech has developed a multi-tenant SAAS solution on the web and mobile platforms with smart analytics to help corporate India comply.

Top five businesses supporting the government’s aim of “Digital India

https://www.apnnews.com | Apn News | Dec. 6, 2022

Rishi Agrawal co-authored a report Jailed for doing business. This monograph by the Observer Research Foundation and TeamLease RegTech presents a deep dive into ingrained criminality and jail term in India’s employer compliance. This report is being leveraged by Policy Makers in India to reduce criminality as a tool of control. Recently, a solution developed by TeamLease RegTech was launched by SEBI Chairperson Madhabi Puri Buch. This initiative with FICCI (Federation of Indian Chambers of Commerce & Industry) is a milestone event towards paperless, cash-less, and presence-less compliance.

Top five businesses supporting the government’s aim of “Digital India

https://newspatrolling.com | Mahender | Dec. 6, 2022

Rishi Agrawal co-authored a report Jailed for doing business. This monograph by the Observer Research Foundation and TeamLease RegTech presents a deep dive into ingrained criminality and jail term in India’s employer compliance. This report is being leveraged by Policy Makers in India to reduce criminality as a tool of control. Recently, a solution developed by TeamLease RegTech was launched by SEBI Chairperson Madhabi Puri Buch. This initiative with FICCI (Federation of Indian Chambers of Commerce & Industry) is a milestone event towards paperless, cash-less, and presence-less compliance.

Decriminalisation of GST Act: Why it can be a big reprieve for small businesses in India

https://economictimes.indiatimes.com | Sandeep Agrawal | Dec. 5, 2022

The introduction of Goods and Services Tax (GST) was a bold step towards digital transformation of tax administration. GST introduced the concept of uniform tax on supply of goods and services and subsumed over 17 large taxes and 13 cess. The new system was framed to be much more transparent in nature, easy to monitor, administer, simplified the registration processes, and significantly reduce the compliance filing requirements.

Can effective risk management by corporates prevent litigation?

https://www.financialexpress.com | Sandeep Agrawal | Dec. 4, 2022

India is amongst the several emerging economies witnessing an economic revolution with continuous improvements in GDP growth, industrial productivity, per capita income supported by a large skilled workforce, policy reforms, and global investments. These growth opportunities bring along many threats which require detailed assessment and mitigation plans. Hence the ‘Vision’ for business transformation goes hand in hand with “Caution”.

Reducing the compliance burden

https://timesofindia.indiatimes.com | Times of India | Dec. 4, 2022

Over the past few years, India has made immense growth and progress in ease of doing business. And with the Government of India taking an initiative towards uniting the nation under its "Digital India" programme, India Inc has undoubtedly made progress toward using technology to tell a compelling tale. Businesses across sectors have started to understand that the cost of poor compliance is simply too high and hence effective compliance management has become a business imperative. Sandeep Agrawal, co founder and director of Team Lease RegTech, explains how TeamLease RegTech is helping India Inc. with compliance management.

From GST introduction to potential decriminalization: How does it impact businesses

https://www.financialexpress.com | Sandeep Agrawal | Dec. 3, 2022

Before the introduction of GST, indirect taxes were divided into several categories, including multiple central taxes like Central Excise, Service tax, Central Sales Tax, etc., and state-specific taxes like VAT, Entry Taxes, etc. While creating a complex regulatory framework, it also resulted in hefty penalties and dire consequences in cases of non-compliance. For instance, the non compliance with the Central Excise Act led to severe penal provisions, which include monetary and criminal provisos like imprisonment for three to seven years. Simultaneously, the regulators could bring criminal charges if the quantity of goods possessed by a business under schedule II i.e., tobacco, pan masala, rubber tires, etc., exceeds the prescribed limit. Evading tax liability or taking false credit of duty by the assesse were some of the other situations, which could lead to harsh penal provisions. Since a lot of compliances were interconnected, it made compliance obligations complex for businesses.

Budget 2023 must factor in geoeconomic infiltrations

https://www.orfonline.org | GAUTAM CHIKERMANE | Dec. 1, 2022

As Rishi Agrawal argues, every business should be given a unique enterprise number that will serve as its identity for all—repeat, all the 69,233—compliances, of which 26,134 carry imprisonment clauses. This number should be accepted by and applicable to all laws, rules and regulations at the Union level or in states. Such a system of doing business will increase the velocity and efficiency of G2C (government to company) communications, be it around setting up a plant, getting a bar licence or paying taxes—one number, one company, one nation.

Ease of Doing Business: Teamlease Regtech empowering corporates to be on the right side of the law

https://www.cxotoday.com | CXO Today News Desk | Dec. 1, 2022

Recently, FICCI launched its RegTech initiative to push for Cashless, Presenceless, and Paperless SEBI compliances. The initiative was launched by Ms. Madhabi Puri Buch, Chairman, SEBI in September of this year. In addition, the rationalization of compliance and regulatory requirements has been on the Government agenda as India is rushing towards the $5 trillion GDP milestone.

Rethinking compliance management: Why is it needed?

https://timesofindia.indiatimes.com | Rishi Agrawal | Nov. 28, 2022

With such a vast, dynamic and hostile compliance environment facing corporate India, effective compliance management has become a business imperative. If entrepreneurs and business leaders wish to stay on the right side of the law, compliance must be prioritised as an essential function. Even minor non-compliance can attract hefty financial and criminal penalties, besides causing revenue leakages and reputational loss. Businesses cannot afford to wait around for favourable policies to come into effect and must instead take matters into their hands. This necessitates a thorough rethinking of compliance management at an organisational level.

Top 5 companies reducing the compliance burden

https://newspatrolling.com | Mahendar | Nov. 28, 2022

In India, the government is focusing on reducing the compliance burden on businesses and citizens has the potential to become the new driver of economic growth. Reduced compliance burden will especially help small firms that account for over 95 percent of Indian businesses. The Make-in-India initiative is a strong component of raising growth and is focused on making India a global manufacturing hub. However, setting up a manufacturing facility in India is heavily front-loaded with getting permissions, licenses, registrations, and consent orders.

Top 5 companies reducing the compliance burden

https://www.cxotoday.com | CXO Today News Desk | Nov. 28, 2022

In India, the government is focusing on reducing the compliance burden on businesses and citizens has the potential to become the new driver of economic growth. Reduced compliance burden will especially help small firms that account for over 95 percent of Indian businesses. The Make-in-India initiative is a strong component of raising growth and is focused on making India a global manufacturing hub. However, setting up a manufacturing facility in India is heavily front-loaded with getting permissions, licenses, registrations, and consent orders. Reducing the compliance burden through simplification, rationalisation, and digitisation is the key to growth. Here are the five companies working towards reducing the compliance burden :

Regulatory maze for EVs

https://www.financialexpress.com | Financial express | Nov. 25, 2022

The number is projected to reach 50 million units by 2030. As the ecosystem matures, there are serious compliance implications.

Criminal provisions of Factories Act keep MSMEs wary

https://economictimes.indiatimes.com | Pavan Burugula and Neha Chaliwala | Nov. 15, 2022

Failing to display a gist of maternity law or failing to ‘limewash’ the washrooms on a timely basis can land factory managements in jail upto three years. Also, failure to constitute canteen management committee or not maintain spittoons carries 3-month sentence each.

Biz Laws: Time To Spare The Rod

https://www.fortuneindia.com | Joe Mathew | Nov. 9, 2022

The authors of the ORF report have given 10 recommendations that go much beyond restraint in use of criminal penalties in business laws. It wants to reform the way policies are designed and wants a regulatory impact assessment committee within the Law Commission of India. The report calls for involvement of independent economic regulators in compliance reforms, end to criminalisation of compliance procedures and creation of alternative mechanisms and frameworks. It has also suggested defining of standards for legal drafting and introduction of sunset clauses. One suggestion — to introduce all reforms through a single legislation — sounds similar to what DPIIT is attempting. A new legislation will not be the end of reforms. It will be part of a process that should continue. But it will be a big step forward.

Digital Ledger: How Companies Can Lay Groundwork For Better Blockchain Compliance

https://news.abplive.com | Rishi Agrawal | Nov. 2, 2022

What was once just a buzzword, used to define the workings of cryptocurrencies, has now taken a central stage. At the core of it, blockchain is a decentralised virtual ledger with the ability to record and verify digital transactions. The decentralised nature of blockchain ensures that the data stored cannot be tampered with as every node has a copy of the virtual ledger. To change an entry on the blockchain one has to alter all the subsequent transactions on all the nodes. This eliminates the need for verification and reconciliation of data.

How technology is transforming compliance in India

https://timesofindia.indiatimes.com | Rishi Agrawal | Nov. 1, 2022

Technology is transforming the world of Compliance. The proliferation and mass adoption of digital payments has laid the foundation for a cashless economy. A faceless assessment scheme is already implemented under the Income Tax Act, 1961, paving the way for adopting a similar approach in all other areas of employer compliance. The emergence of technologies such as blockchain is creating the required plumbing for a trustless ecosystem that assures the authenticity and integrity of the data. India’s digital economy is expected to become a trillion dollars soon, creating huge market opportunities in new economy sunrise industries such as gaming, crypto, and metaverse among others. Regulating and monitoring them will need new-age technology-based systems. It is time that the country reimagines its employer compliance with technology platforms to become a $10-trillion economy within the decade

Auto companies find compliance burden heavy: survey

https://economictimes.indiatimes.com | Nehal Chaliawala | Oct. 31, 2022

A manufacturing company in the automotive industry must deal with 489 central, state and local-level compliances, the report noted. These fall under the labour, EHS (environment, health & safety), corporate law, commercial law and finance and taxation law categories. In addition to this, there are industry-specific compliances for automakers.

Decoding Compliance Management in the pharma sector

https://issuu.com | Rishi Agrawal | Oct. 31, 2022

TeamLease RegTech re cently launched a first-of-its kind report "Simplifying Compliance Management for Pharmaceutical Companies" on the state of regulatory compliance in the pharma sector. It details the numer ous challenges encountered. by the industry and proposes actionable recommendations for reducing the compliance. obligations of pharma compa nies. It also supplements its findings with crucial industry insights, providing a unique insider perspective into the reforms needed for enabling ease of doing business in this pivotal sector.

Key Indian auto executives don't understand compliance obligations: Report

https://www.business-standard.com | Press trust of India : New Delhi | Oct. 30, 2022

Key management personnel in Indian automobile companies have a poor understanding of compliance obligations that can range from several hundred acts to thousands of rules depending on the size of the business, according to a report by TeamLease Regtech.

Dynamic landscape. Compliance with regulation: Staying ahead is key

https://www.thehindubusinessline.com | Rishi Agrawal | Oct. 30, 2022

The Indian aviation sector is the seventh-largest market in the world. Its domestic air traffic accounts for 69 per cent of the total air traffic in South Asia. While these numbers might make one proud, what goes behind running such operations is, to put mildly, mind-boggling. Hundreds of rules and regulations need to be followed and there are about 400 changes notified every year, which needs to complied with and those who don’t are penalised heavily. So, let us dive into how tough this maze is to untangle.

Key management personnel of Indian auto firms have poor understanding of compliance obligations

https://www.deccanherald.com | PTI New Delhi | Oct. 30, 2022

In the report 'Simplifying compliance management for automobile industry', TeamLease RegTech, a regulatory technology solutions firm, said with applicability of compliances changing based on location of manufacturing units, use of specific equipment .

How can Indians invest in the US stock market?

https://www.financialexpress.com | Rishi Agrawal | Oct. 19, 2022

For many investors, the US stock market has emerged as a preferred destination. The reasons are multifold. The US has the world’s strongest capital market, with a market capitalization of over US$48 trillion and more than 6,000 listed companies.

The challenge of keeping up with the regulators

https://ibsintelligence.com/ | Puja Sharma | Oct. 18, 2022

It has been fashionable in past years for any company to claim that it is doing compliance digitally. However, managing compliance is not easy. It requires time. It requires resources. It requires the expertise and knowledge of complex and changing legislation. Rishi Agrawal, CEO and Co-Founder of Teamlease Regtech warns that most companies simply don’t have the in-house capabilities to deal with this complexity.

A three-point guide for India on how to catch China's 'migrants'

https://economictimes.indiatimes.com | Manish Sabharwal & Rishi Agrawal | Oct. 12, 2022

India must choose the future generation over the old , loud and urban ( largely masculine ) workforce who have formal jobs and suggest job preservation is a form of job creation . Their self - interest is hardly national interest . Attracting China's ' factory migrants ' will create opportunities for labour market outsiders - rural youth , women , unskilled , farmers and the self - employed.

Life after an IPO: Unpacking the compliance obligations of a public company

https://timesofindia.indiatimes.com | | Oct. 9, 2022

In a public listed company, the compliance obligations spill over from a close group of senior executives to several thousand connected people, making compliance an onerous job. Strong internal processes and technology systems including Structured Digital Databases (SDDs) are key to managing high standards of corporate governance.

RBI Liberalised Remittance Scheme: How Indians can use LRS to invest, remit money abroad

https://economictimes.indiatimes.com | Rishi Agrawal | Sept. 22, 2022

With more porous geographical borders and an integrated global economy, the frequency of foreign transactions has grown tremendously. LRS facilitates such transactions in a seamless manner while also safeguarding the country's foreign exchange against instability. Residents and entrepreneurs alike should familiarise themselves with the nuances of LRS to have a hassle-free remittance experience and optimise their foreign exchange dealings.

5 RegTech organizations to watch out for

https://www.cxotoday.com | CXOtoday News Desk | Sept. 20, 2022

TeamLease RegTech is India’s leading regulatory technology company helping corporate India stay on the right side of the law. It enables a transparent, timely, and accountable compliance program for over 1500 entities across 45 industries in India. Co-founded by Sandeep Agrawal & Rishi Agrawal, TeamLease RegTech has developed a multi-tenant SAAS solution on web and mobile platforms with smart analytics to help corporate India comply.

SEBI chief unveils FICCI drive to strengthen compliance

https://www.thehindu.com | The Hindu | Sept. 15, 2022

SEBI Chairperson Madhabi Puri Buch has unveiled Federation of Indian Chambers of Commerce & Industry’s (FICCI) initiative to strengthen compliance with a tech-based solution supported by TeamLease Regtech, a regulatory technology (Regtech) solutions company.

What the New Labour Codes mean for employees?

https://www.financialexpress.com | Rishi Agrawal | Sept. 15, 2022

The colonial-era labour laws designed to address the socio-economic exigencies of the time have outlived their welcome in the new era of development.

SEBI chairperson says every single policy it brings out is data-backed

https://aninews.in | ANI | Sept. 14, 2022

At the conference, the SEBI chairperson launched FICCI's ‘RegTech’ initiative in partnership with TeamLease RegTech to facilitate end-to-end automation of all SEBI compliances. This will digitize compliance for companies to stay on the right side of the law.

SEBI chairperson says every single policy it brings out is data-backed

https://theprint.in | ANI | Sept. 14, 2022

The SEBI chairperson launched FICCI’s ‘RegTech’ initiative in partnership with TeamLease RegTech to facilitate end-to-end automation of all SEBI compliances. This will digitize compliance for companies to stay on the right side of the law.

SEBI Chairman says every single policy brought by him is data backed

https://news.bharattimes.co.in | ANI News Service | Sept. 13, 2022

At the conference, the Chairman, SEBI launched FICCI’s ‘RegTech’ initiative in partnership with TeamLease RegTech to facilitate end-to-end automation of all SEBI compliances. It will digitize compliance for companies to stay on the right side of the law.

Trust, transparency & disclosure key imperatives for capital markets: SEBI Chairperson

https://www.equitybulls.com | Equity Bulls | Sept. 13, 2022

SEBI Chairperson launched FICCI's 'RegTech' initiative in partnership with TeamLease RegTech to facilitate end-to-end automation of SEBI compliances. This will digitize compliance for companies to stay on the right side of the law.

Trust, Transparency & Disclosure Key Imperatives For Capital Markets: SEBI Chairperson

https://tennews.in/ | Ten News Network | Sept. 13, 2022

SEBI Chairperson also launched FICCI’s ‘RegTech’ initiative in partnership with TeamLease RegTech to facilitate end-to-end automation of SEBI compliances. This will digitize compliance for companies to stay on the right side of the law.

Trust transparency disclosure key imperatives for capital markets sebi chairperson

http://www.uniindia.com | Business Economy | Sept. 13, 2022

SEBI Chairperson launched FICCI's 'RegTech' initiative in partnership with TeamLease RegTech to facilitate end-to-end automation of SEBI compliances. This will digitize compliance for companies to stay on the right side of the law.

Overregulation bred economic dwarfs who choose to fly under regulatory radar even if it restricts access to capital, talent

https://www.financialexpress.com | Rishi Agrawal | Sept. 3, 2022

Ease of Doing Business for MSMEs: For formal MSMEs and startups, the regulatory complexity lies not only in the number of compliance but also in the ongoing nature of compliances.

Bolstering cyber security in Indian digital economy

https://timesofindia.indiatimes.com | Rishi Agrawal | Aug. 28, 2022

The world is ever changing but technology is here to stay for the long haul. The penetration of digital services and tech processes has increased exponentially over the years while the understanding of cyber-related issues has remained limited. This has created deep vulnerabilities for both businesses and consumers. In this context, the new cybersecurity norms are a step in the right direction. They will provide impetus to robust digital infrastructure for ensuring cybersecurity awareness and preparedness. At the same time, they will protect the edifice of 21st-century businesses from collapsing at the mercy of malicious cyberattacks.

Accelerating growth in the Indian insurance sector: The EoDB approach

https://timesofindia.indiatimes.com | Rishi Agrawal | Aug. 21, 2022

The IRDAI has introduced two key regulatory reforms in the insurance sector. First, it has extended the ‘use and file’ procedure for all health products and almost all general insurance products. Second, it has rationalised the compliance requirements for all Foreign Reinsurance Branches (FRBs).

Busting the Myths on CSR Regime in India

https://indiacsr.in | INDIA CSR | Aug. 10, 2022

With the government pushing for greater CSR monitoring and enforcement, an increased onus now lies on corporate India to play its part in the developmental progress of the country.

How to check if your employer has deposited your EPF contribution into the account

https://economictimes.indiatimes.com/ | Preeti Motiani | Aug. 4, 2022

Rishi Agrawal, Founder & CEO, TeamLease RegTech says "An employer is required to deposit the EPF contribution within 15 days of the month ending for which salary has been paid. For instance, for the month of July 2022, the employer is required to deposit both employer and employee EPF contribution by August 15, 2022 to an employee's EPF account."

Govt steps up ease of doing business, this many compliances simplified, decriminalized in India

Financial Express | MSME Desk | July 20, 2022

Ease of Doing Business for MSMEs: “Government of India, along with states and UTs has been working to reduce the compliance burden on businesses. The objective of the exercise is to improve ease of doing business by simplifying, rationalizing, digitizing and decriminalizing government-to-business interfaces,” said MoS Commerce Som Parkash.

NMC norms on foreign medical graduates to practice in India a transformation move: Rishi Agrawal

Pharma Biz | Nandita Vijay | July 9, 2022

As a leading Regulatory Technology (RegTech) solutions company, the company is of the view that students who pursue MBBS abroad will now have to ensure that their degree is up to 54 months and have to spend an extra year completing their internship before being allowed to practice in India.

Laws governing business must lose criminalising provisions

The Financial Express | Rishi Agrawal | July 1, 2022

A recent study highlights that the use of imprisonment as a tool of control over entrepreneurs has deepened since Independence. Even after three decades of economic reforms, entrepreneurs are still viewed through the lens of criminality.

TeamLease RegTech report shows 97% of pharma non complaint with 49% imprisonment clauses for contraventions

Pharmabiz | | May 24, 2022

TeamLease RegTech, a leading regulatory technology solutions company from TeamLease Services, in its ‘Simplifying Compliance Management for Pharmaceutical Companies’, shows that 97% of the industry lack the required visibility and control over their compliance programme. The report also points out that 90% of the companies missed at least one critical compliance during the previous year, while 95% incurred fines and penalties for non-compliance.

India’s digital economy needs timely regulatory engagement

Times of India | Rishi Agrawal | May 20, 2022

Delayed regulatory intervention is hurting India’s aspiration to become a trillion dollar digital economy. There is a pressing need for the government to keep up with the emerging exponential technologies. A key reason for the delay can be attributed to the lack of expertise within the government. It is recommended that the government build and nurture capacity within itself to constantly scan breakthrough technological innovations and their implications on emerging digital business models.

Jailed For Doing Business

The Cārvāka Podcast | Gautam Chikermane and Rishi Agrawal | April 29, 2022

In this podcast, Gautam Chikermane and Rishi Agrawal talk to Kushal about their new monograph published by the Observer Research Foundation. This podcast covers some of the topics of the monograph which looks into the imprisonment clauses that plague India’s business compliance regulations framework.

We need freedom from the grip of regulations and compliances

Live Mint | Makarand R. Paranjape | April 25, 2022

In Jailed for Doing Business (bit.ly/3vFWUWX), a recent report released by Observer Research Foundation (ORF), co-authored by Gautam Chikermane, vice-president, ORF, and Rishi Agrawal, co-founder and CEO at Avantis RegTech, a shocking 69,233 unique compliances have been listed, of which 26,134 clauses have imprisonment as penalty for non-compliance. Of the most compliance insistent states, five have the highest number of imprisonment clauses—Gujarat (1,469), Punjab (1,273), Maharashtra (1,210), Karnataka (1,175) and Tamil Nadu (1,043). What is utterly frustrating and dismaying is that despite such a stringent compliance regime, with so many rules, regulations and draconian clauses, the real crooks repeatedly seem to evade the inordinately long arm of the law.

TDS will not apply to EPF balance till FY21: Heres what experts suggest

Knowledia | Bindisha Sarang | April 13, 2022

Prashant Singh, vice-president and business head-compliance and payroll operations, TeamLease Services, says that TDS will be applicable in case of Provident Fund (PF) final settlement, transfer claims, transfer from exempted establishments to the EPFO, and vice versa. It will also apply in case of transfer from one trust to another, and in case of death. This rule will also apply to international workers.

How changes in EPF rules may affect you?

Business Standard | Bindisha Sarang | April 13, 2022

Prashant Singh, vice-president and business head-compliance and payroll operations, TeamLease Services, says that TDS will be applicable in case of Provident Fund (PF) final settlement, transfer claims, transfer from exempted establishments to the EPFO, and vice versa. It will also apply in case of transfer from one trust to another, and in case of death. This rule will also apply to international workers. .

Ease of doing business 2.0: Ask the right questions

Live Mint | Pradeep S. Mehta | March 22, 2022

In her budget speech, Finance Minister Nirmala Sitharaman expressed the government’s resolve to launch Ease of Doing Business 2.0 and Ease of Living programmes. To this end, she highlighted that in recent years, over 25,000 compliance requirements were reduced and 1,486 Union laws repealed. What was the nature of these compliances and laws?

Jailed for doing business: ORF report on the risks of compliances faced by Indian Entrepreneurs

Editorji | GAUTAM CHIKERMANE, RISHI AGRAWAL | March 17, 2022

The report of Observer Research Foundation (ORF) distils the risks of imprisonment faced by Indian entrepreneurs. Using newly isolated data on 26,134 imprisonment clauses embedded in laws enacted by the union and state governments, it provides the risks faced by entrepreneurs and corporations in doing business in the country. In this video, the authors of the report, Gautam Chikermane, Vice President, ORF, and Rishi Agrawal, CEO of TeamLease RegTech, are in conversation with BOOM's Govindraj Ethiraj. They discuss and scrutinize age-old compliances in India's business laws and suggest policy recommendations to lawmakers.

Unnecessary and redundant penalties should be taken out of the law books

Economic Times | ET CONTRIBUTORS | March 16, 2022

The word 'draconian' comes from the Athenian lawgiver Draco who gave civilisation an important milestone - written laws. Before this, it was ad-hocracy. Even though an improvement, the laws were extremely harsh, with the death penalty being commonplace.

Superfluous Compliance Load

Herald Goa | SHIVANAND PANDIT | March 16, 2022

For years every government has been attempting at lessening rules and regulations around doing business in India. According to the latest research report by TeamLease RegTech, in correlation with the Observer Research Foundation (ORF), among the 69,233 exclusive compliances that govern doing business in India, there are 26,134 imprisonment clauses as punishments or fines for non-compliance with business laws legislated since independence. Nearly 38 per cent of compliances can send a businessperson to jail.

Need To Decriminalise India's Business Laws: ORF Report

BoomLive | Govindraj Ethiraj | March 4, 2022

The report, which has been authored by Cheikermane, Vice President of the Observer Research Foundation and Agarwal, co-founder and CEO of TeamLease RegTech, argues for a rewriting of India's business laws which haven't been updated for the 21st century.

EPF account transfer from EPFO to employer’s EPF trust. All you should know

Times Now News | ET Online | March 3, 2022

Prashant Singh, Vice President and Business-Head- Compliance and payroll outsourcing, TeamLease Services said, "An EPF member not only transfers money from an old EPF account to a new EPF account, he/she also transfers details related to Employees' Pension Scheme (EPS) account to new employer,” Singh explained. He added that the money deposited by the employer (old and new) in the EPS account is deposited to the EPFO and at the time of transfer, this lies with the EPFO and pension is paid to the individual when they become eligible.

How To Unleash Creation Of Well-Paid Jobs In India

Bloombergquint | Manish Sabharwal & Rishi Agrawal | March 3, 2022

A new report titled Jailed For Doing Business dissects the criminality in India’s business laws. The report suggests that among the universe of 1,536 legislations, 54% (843) have clauses of imprisonment. Of these, 29% are at the union and 71% at the state levels. In the 26,134 compliances, two out of every five items have imprisonment clauses going up to 10 years. A jail time of up to 3 years can be meted out under 86% of the clauses.

Need To Decriminalise India's Business Laws: ORF Report

The Outreach | Manish Sabharwal & Rishi Agrawal | March 3, 2022

A new report titled Jailed For Doing Business dissects the criminality in India’s business laws. The report suggests that among the universe of 1,536 legislations, 54% (843) have clauses of imprisonment. Of these, 29% are at the union and 71% at the state levels. In the 26,134 compliances, two out of every five items have imprisonment clauses going up to 10 years. A jail time of up to 3 years can be meted out under 86% of the clauses.

How To Unleash Creation Of Well-Paid Jobs In India

FlipBoard | Manish Sabharwal & Rishi Agrawal | March 3, 2022

A new report titled Jailed For Doing Business dissects the criminality in India’s business laws. The report suggests that among the universe of 1,536 legislations, 54% (843) have clauses of imprisonment. Of these, 29% are at the union and 71% at the state levels. In the 26,134 compliances, two out of every five items have imprisonment clauses going up to 10 years. A jail time of up to 3 years can be meted out under 86% of the clauses. While labour laws are half of the compliance universe they contribute over 65% of imprisonment clauses. Within these laws, the Factories Act, of 1948 is the largest contributor accounting for 31% of all the criminal clauses.

How to transfer EPF account from EPFO to employer’s EPF trust and vice versa

Economic Times | Preeti Motiani | March 3, 2022

Prashant Singh, Vice President and Business-Head- Compliance and payroll outsourcing, TeamLease Services say, "As per the EPFO rules, an individual can easily transfer his EPF account held with old employer to new employer irrespective whether the previous or new account was/is held with trust or EPFO."

Adoptive mothers can claim equal maternity benefits, say analysts

Business Standard | Bindisha Sarang | March 3, 2022

Prashant Singh, vice-president and business head-compliance and payroll operations, TeamLease Services, says, “The Maternity Benefit Act, 1961, doesn’t offer paternity leave. If companies offer it, it’s according to their wishes. Only new mothers are entitled to benefits under the Maternity Benefit Act, 1961"

How to transfer EPF account from EPFO to employer’s EPF trust and vice versa

Bangalore Mirror | ET Online | March 3, 2022

Prashant Singh, Vice President and Business-Head- Compliance and payroll outsourcing, TeamLease Services said, "An EPF member not only transfers money from an old EPF account to a new EPF account, he/she also transfers details related to Employees' Pension Scheme (EPS) account to new employer,” Singh explained.

India needs to take a serious look at its business laws. Here's why

The Economic Times | Gautam Chikermane | Feb. 24, 2022

In the Observer Research Foundation (ORF) report, 'Jailed for Doing Business: The 26,134 Imprisonment Clauses in India's Business Laws' (bit.ly/ 3sU0Kdm) released earlier this month, Avantis RegTech CEO Rishi Agrawal and I explore the root cause for bureaucratic rent-seeking, bribery and extortion. The report isolates imprisonment clauses that surround doing business in India, of which there are hundreds of anecdotes but no macro data.

Ease of Doing Business? Not When There are Over 26000 Ways to Put an Entrepreneur in Jail

News 18 | AS MITTAL | Feb. 23, 2022

Just imagine how difficult the task gets for an entrepreneur to survive and thrive when they are vulnerable to imprisonment. Even though the central and state governments are striving to ease out over-regulations around doing business, there are still over 26,000 clauses that can lead to imprisonment of an entrepreneur, as per a report ‘Jailed for Doing Business’, prepared by Teamlease RegTech and Observer Research Foundation (ORF). In Punjab, for instance, there are 31 Acts, 1,427 compliances and 1,273 imprisonment clauses to regulate an entrepreneur.

Don't bank just on EPS as its pension payouts are paltry, say analysts

Business Standard | Bindisha Sarang | Feb. 22, 2022

Prashant Singh, Business Head TeamLease Compliance has quoted “While the employee’s entire contribution goes to EPF, 8.33 per cent of the employer’s share goes to EPS.

Don’t bank just on EPS as its pension payouts are paltry, say analysts-Business Journal

BUSINESS JOURNAL | BUSINESS JOURNAL | Feb. 22, 2022

At present, it is mandatory for employees who earn a basic salary plus dearness allowance (DA) of up to Rs 15,000 to enrol in EPS

Don’t bank just on EPS as its pension payouts are paltry, say analysts

Creatives Writing | Naman | Feb. 22, 2022

At present, it is mandatory for employees who earn a basic salary plus dearness allowance (DA) of up to Rs 15,000 to enrol in EPS

Dont bank just on EPS as its pension payouts are paltry, say analysts

News Knowledia | Bindisha Sarang | Feb. 22, 2022

The employee and the employer each contribute 12 per cent of the employee’s basic salary and DA to EPF. Prashant Singh, vice-president and business head – compliance and payroll outsourcing, TeamLease Services, says: “While the employee’s entire contribution goes to EPF, 8.33 per cent of the employer’s share goes to EPS.”

'Jailing clauses in biz laws deter entrepreneurship'

HTDS Content Services | Gireesh Chandra Prasad | Feb. 21, 2022

While the Centre is working on promoting ease-of-doing-business, over 26,000 imprisonment clauses in Indian commercial laws are likely to throw a spanner in the works, regulatory technology firm Teamlease RegTech and Observer Research Foundation (ORF) said in a joint report.

India’s compliances conundrum

Financial Express | FE Online | Feb. 16, 2022

The Factories Act, 1948, for instance, read with 58 rules, contain 8,682 imprisonment clauses. This is an important law as it provides core protections to workers.

India’s compliances conundrum

MSN | FE Online | Feb. 16, 2022

India’s myriad laws and the web of compliances that come with it pose a growing challenge for entrepreneurs and businesses. Sharing details on these, a just released research report by Teamlease RegTech and ORF, points to the added problem of laws armed with imprisonment as a tool to control, sometimes even for inadvertent and minor lapses. It points to 26,134 specific clauses in the country’s business legislations, rules and regulations that that impose prison terms for violations. The report says if the amendments to the Companies Act, 2013 get enacted, it could be the starting point for deeper economic reforms. India’s entrepreneurial landscape, it says, is full of laws, rules, and regulations that have raised barriers to doing business. The Factories Act, 1948, for instance, read with 58 rules, contain 8,682 imprisonment clauses. This is an important law as it provides core protections to workers.

There are more than 26,000 ways to jail a businessman in India

Economic Times | ET Online | Feb. 16, 2022

Chikermane explains that this 'regulatory cholesterol' has impeded the free flow of ideas and growth of business in the country. Compliances for a business with 100-200 people to just get off the ground can range between 40-80 and ongoing compliances could range between 400-450 a year points out Rishi Agarwal, Co Founder and CEO, TeamLease TechReg.

There are more than 26,000 ways to jail a businessman in India

Economic Times | Economic Times Online | Feb. 16, 2022

An ORF report brings out 26,134 imprisonment clauses embedded in laws enacted by the Union and state governments and highlights risks faced by entrepreneurs and corporations in doing business in the country.

Decoded: The Challenges Of Doing Biz In India | India Development Debate

Times Now News | GAUTAM CHIKERMANE, RISHI AGRAWAL | Feb. 16, 2022

About 26,134 laws can put entrepreneurs and businesspersons in jail in India in case of non-compliance, finds a latest study conducted by the Observer Research Foundation (ORF). Acts like not whitewashing or colour-washing the walls, ceiling and partitions of every latrine and urinal once in four months, for instance, are among the imprisonment clauses of the Factories Act. 1948, even though they are irrelevant in the technologically advanced business environment today. Is it time to take a relook at laws prescribing jail for minor lapses? Is there enough political will to reform our regulatory framework to make it more conducive to entrepreneurship and innovation? We debate on the India Development Debate with Gautam Chikermane, Vice President, ORF and Rishi Agrawal, Co-Founder and Chief Executive Officer, TeamLease RegTech. Tune in!

Over 26,000 laws that can put a businessman in jail and cause 'unease' of doing business

Economic Times | Tamanna Inamdar | Feb. 16, 2022

Chikermane explains that this 'regulatory cholesterol' has impeded the free flow of ideas and growth of business in the country. Compliances for a business with 100-200 people to just get off the ground can range between 40-80 and ongoing compliances could range between 400-450 a year points out Rishi Agarwal, Co Founder and CEO, TeamLease TechReg.

We blame the Centre for low GDP, but India is run by states

Financial Express | Sanjeev Nayyar | Feb. 16, 2022

Another example is of the labour Codes recently introduced by the Centre. Similarly, maximum compliances are governed by state governments, Gautam C and Rishi A wrote in the ORF, “India’s businesses function in a regulatory universe of 1,536 Acts that demand 69,233 compliances and 6,618 filings across the Union and state governments. Of these, almost a third (30%, or 463) of the laws and almost half (47%, or 32,542) compliances come under the labour category. Statistically, almost all the compliances (97.1%) are governed by state governments and 937 by the Union government.”

Over 26,000 laws that can put a businessman in jail and cause 'unease' of doing business

Times Now News | Tamanna Inamdar | Feb. 16, 2022

A recent report by ORF and TeamLease highlights 26,134, often redundant laws that can jail a business person in India. Some of these laws though not implemented often hang like a sword over entrepreneurs.

Over 26,000 laws that can put a businessman in jail and cause 'unease' of doing business

FlipBoard | Tamanna Inamdar | Feb. 16, 2022

Chikermane explains that this 'regulatory cholesterol' has impeded the free flow of ideas and growth of business in the country. Compliances for a business with 100-200 people to just get off the ground can range between 40-80 and ongoing compliances could range between 400-450 a year points out Rishi Agarwal, Co Founder and CEO, TeamLease TechReg.

Treating the businessman as a felon

The Hindu Business | R Srinivasan | Feb. 16, 2022

One look at “Jailed for doing business” — a research report by think tank ORF and temp staffing major Teamlease’s compliance advisory arm Teamlease Regtech, and any potential investor aiming to start a business in India is likely to take to the hills.

India’s Business Laws Need To Shed ‘Regulatory Cholesterol’: Observer Research Foundation

Boomberg Quint | Arpan Chaturvedi | Feb. 15, 2022

It’s not that penalty clauses including imprisonment should not be in business laws but 26,134 imprisonment clauses are surely a regulatory excess whose biggest contribution would only be to create a rent-seeking climate, the report authored by Gautam Chikermane and Rishi Agrawal says.

26,000 imprisonment clauses in biz laws: Most come under labour category

Flipboard | Jescilia Karayamparambil | Feb. 15, 2022

The research report titled 'Jailed for Doing Business', prepared by Teamlease and Observer Research Foundation (ORF), stated: "Almost two out of every five (37.7 per cent) clauses pertaining to doing business in India carry imprisonment as penalties. More than half the laws (or 54.9 per cent) carry imprisonment clauses."

26,000 imprisonment clauses in biz laws: Most come under labour category

CNBC | Jescilia Karayamparambil | Feb. 15, 2022

Speaking to CNBC-TV 18, Gautam Chikermane, vice-president at ORF, said: "The biggest compliance reforms needed in India are in the labour category — almost seven out of 10 imprisonment clauses (68.1 per cent) come under the labour category."

Licence raj is history, but inspector raj thrives: Gautam Chikermane & Rishi Agarwal

News Nine | Arun Kalyanasundaram | Feb. 14, 2022

Gautam Chikermane and Rishi Agarwal titled 'Jailed for Doing Business: The 26,134 Criminal Clauses in India's Business Laws' dwells on this very issue.

Archaic laws criminalise entrepreneurs

News India Express | Shankkar Aiyar | Feb. 13, 2022

The Factories Act is just one law and represents a larger malaise. A new study authored by Rishi Agrawal and Gautam Chikermane has drilled deep into the legal landscape governing businesses. Published by the Observer Research Foundation, the study reveals the shocking state of archaic laws governing livelihoods — the ecosystem of economic growth and well-being. The study shows that there are 843 laws (599 of them State laws) with clauses criminalising violation — with 26,134 compliances which host the threat of imprisonment. The width of the threat is stark — 11,042 clauses could lead to imprisonment of between one and three years, 1,481 specify jail term of three to five years, 1,821 list a prison sentence of five to 10 years and 207 carry a sentence of over 10 years.

Between doing business and jail

IANS Live | Sukant | Feb. 13, 2022

It is a first-of-its-kind consolidation of business compliance data that had, to date, only existed in silos across ministries and departments. Collated over the past seven years by TeamLease RegTech, a regulatory technology solutions firm, the monograph has classified the data into seven broad domains - labour, finance, taxation; environmental health and safety; secretarial; commercial; industry-specific; general.

Between doing business and jail.

IANS Live | IANSLive | Feb. 13, 2022

Jailed for Doing Business: the 26,134 imprisonment clauses in India’s business laws is a monograph by Observer Research Foundation that analyses newly isolated compliance data that entrepreneurs and corporations face. It offers recommendations that could help policymakers reimagine India’s compliance universe.

Between Doing Business And Jail

OMMCOM NEWS | OMMCOM NEWS | Feb. 13, 2022

It is a first-of-its-kind consolidation of business compliance data that had, till date, only existed in silos across ministries and departments. Collated over the past seven years by TeamLease RegTech, a regulatory technology solutions firm, the monograph has classified the data into seven broad domains – labour; finance and taxation; environment, health and safety; secretarial; commercial; industry-specific; and general.

India’s compliances conundrum – The Monetary Categorical

Times of Truth | FE Online | Feb. 12, 2022

India’s myriad legal guidelines and the net of compliances that include it pose a rising problem for entrepreneurs and companies. Sharing particulars on these, a simply launched analysis report by Teamlease RegTech and ORF, factors to the added drawback of legal guidelines armed with imprisonment as a instrument to manage, typically even for inadvertent and minor lapses. It factors to 26,134 particular clauses within the nation’s enterprise legislations, guidelines and laws that that impose jail phrases for violations. The report says if the amendments to the Corporations Act, 2013 get enacted, it may very well be the start line for deeper financial reforms. India’s entrepreneurial panorama, it says, is filled with legal guidelines, guidelines, and laws which have raised obstacles to doing enterprise. The Factories Act, 1948, for example, learn with 58 guidelines, comprise 8,682 imprisonment clauses. This is a crucial regulation because it supplies core protections to staff.

‘Jailing clauses in biz laws deter entrepreneurship’

Live Mint | Gireesh Chandra Prasad | Feb. 11, 2022

While the Centre is working on promoting ease-of-doing-business, over 26,000 imprisonment clauses in Indian commercial laws are likely to throw a spanner in the works, regulatory technology firm Teamlease RegTech and Observer Research Foundation (ORF) said in a joint report.

Aapki khabar Aapka Fayda

Zee Business | RISHI AGRAWAL | Feb. 11, 2022

On Commodity With Rishi Agrawal, TeamLease RegTech

Reimagining India’s business compliances

Hindustan Times | Rishi Agrawal | Feb. 11, 2022

India’s legacy framework has viewed entrepreneurs with distrust and used criminality as a tool for control. This needs urgent repeal. Here is a way

Entrepreneurs face over 26,000 imprisonment clauses in Indian biz laws: Study

Business Today | Aparna Banerjea | Feb. 10, 2022

"Using newly isolated data on 26,134 imprisonment clauses embedded in laws enacted by the Union and state governments, it provides the risks faced by entrepreneurs and corporations in doing business in the country," the study by Observer Research Foundation and Teamlease RegTech stated.

Jailed for Doing Business: The 26,134 Imprisonment Clauses in India's Business Laws

Observer Research Foundation | GAUTAM CHIKERMANE and RISHI AGRAWAL | Feb. 10, 2022

India suffers from ‘regulatory cholesterol’ that is getting in the way of doing business. The legislations, rules and regulations enacted by the Union and State governments have over time created barriers to the smooth flow of ideas, organisation, money, entrepreneurship and through them the creation of jobs, wealth and GDP.

Study flags 26,134 legal threats to entrepreneurship

Business Standard | Deepsekhar Choudhury | Feb. 10, 2022

Five states have more than 1,000 imprisonment clauses in their business laws: Gujarat (1,469), Pun­jab (1,273), Mahar­a­s­htra (1,210), Karna­t­aka (1,175), and Tamil Nadu (1,043), according to a study by Observer Research Foundation and TeamLease RegTech.

Over 26,000 clauses that can put entrepreneurs in jail for non-compliance with business laws: Report

Financial Express | FE Online | Feb. 10, 2022

India has 69,233 unique compliances that regulate doing business in the country, of which 26,134 clauses have imprisonment clauses, in other words, almost two out of five compliances can send an entrepreneur to jail, according to the report Jailed For Doing Business by TeamLease RegTech and Delhi-based independent think tank Observer Research Foundation.

Over 26,000 ways an entrepreneur can land in jail for non-compliance of business laws

The Hindu Business Line | Our Bureau | Feb. 10, 2022

A research report by Teamlease Regtech and ORF highlighted the issues related to compliances and had given recommendations to improve doing business. Non-compliance of two out of five provisions for doing business can send an entrepreneur to jail, said a research report prepared by TeamLease RegTech, in association with the Observer Research Foundation (ORF), a globally leading multidisciplinary think tank. Teamlease Regtech, regulatory technology company, has highlighted issues related to compliances and given its recommendation to further improve doing business, in its report titled “Jailed for Doing Business: the 26,134 imprisonment clauses in India’s business laws”

‘Jailed for doing business’ report

Edukemy Gazette | GAUTAM CHIKERMANE, RISHI AGRAWAL | Feb. 10, 2022

A report by TeamLease RegTech and the Observer Research Foundation titled, ‘Jailed for doing business’ delves into the compliance burden on Indian firms.

Ease of doing business: Report recommends easing of compliance burden on firms

The Financial Express | FE Bureau | Feb. 10, 2022

Stating that a huge compliance burden has been hampering the ease of doing business in general and the growth of the manufacturing sector in particular, a new report pitched for a thorough review of all provisions for jail terms for non-compliance by employers, and decriminalising technical and procedural lapses, immediately. In addition, the report tilted ‘Jailed for Doing Business’, prepared by Teamlease in association with Observer Research Foundation (ORF), has recommended constituting a regulatory impact assessment committee and sunset clauses in India’s business laws.

Jailed for doing business: Over 26K Indian law compliances with imprisonment clauses

Deccan Hearld | PTI | Feb. 10, 2022

Excessive criminalization of employer compliance universe breeds corruption, blunts formal employment and poisons justice, says Manish Sabharwal, Vice Chairman of TeamLease - which had collated the report with ORF. "This report is a wonderful contribution to ideas for actionable reforms; the government has made a good start in purging compliances but truly reducing regulatory cholesterol requires extending that project to purging the 26,134 jail provisions for employers at the centre and state."

Study flags 26,134 legal threats to entrepreneurship

Business Standard | Deepsekhar Choudhury | Feb. 10, 2022

Five states have more than 1,000 imprisonment clauses in their business laws: Gujarat (1,469), Pun­jab (1,273), Mahar­a­s­htra (1,210), Karna­t­aka (1,175), and Tamil Nadu (1,043), according to a study by Observer Research Foundation and TeamLease RegTech.

Budget 2022-23: Industry experts hail reduced compliances, digitisation, Ease of Doing Business 2.0

Economic Times | Garima Bora | Feb. 1, 2022

Rishi Agarwal, CEO, TeamLease Regetech Pvt Ltd, was happy to see that a number of compliances have been done away with. “There's a lot of redundancy, overlap, and duplication in doing a business. It was good to see that the finance minister acknowledged the overlapping in compliances. I personally feel that 25 to 30% of India's compliance issues suffer because of overlapping,” he said.

Budget 2023 Expectations Live Updates: Will Homes Become More Affordable?

https://www.news18.com | Business Desk News 18 | Jan. 25, 2022

Experts expect higher infra spending, the budget to enhance the disposable income of middle-class households, and list what the key priorities should be for the government in the upcoming budget.Budget 2023 may see India stepping up on capex with a major thrust on Gati Shakti and National Infrastructure Pipeline (NIP) targets and National Infrastructure Pipeline (NIP) targets. Nirmala Sitharaman’s last full Budget before elections, may also have dedicated

Budget 2023-24: Proposals on Direct Taxes Code that can benefit taxpayers

https://thefederal.com | Sandeep Agrawal | Jan. 25, 2022

Through Direct Taxes Code, the Centre aims to simplify the structure of direct tax laws in India into a single legislation. Here are some proposals on DTC that, if implemented, can provide great relief to individual and corporate taxpayers

For businesses in 2021, there were about 15 changes in law every day, 3680 in a year

Economic Times | ET Online | Jan. 24, 2022

India’s laws and regulations are not static and change very often. Changes to dates, deadlines, forms, duties & interests, penalty calculations, the addition of a compliance item, deletion of a compliance item (rarely), and introduction of new acts, stifle every business in terms of compliance. Of the changes in the law about 2600 updates came from the central government, and about 900 from state governments. The Budget must find a way to address this.

Live: India Surpasses China As The World's Most Populous Nation; What Does That Mean For India?

https://www.moneycontrol.com | Money Control | Jan. 24, 2022

India has surpassed China as the world’s most populous nation. Is it a boon or a bane for India? Catch the conversation as Moneycontrol's Shweta Punj talks with Poonam Muttreja, Executive Director at Population Foundation of India, and Rishi Agrawal, CEO at TeamLease Regtech!

How private sector can help govt boost its regulatory capacity to enhance ease of doing business

Financial Express | Rishi Agarwal | Jan. 9, 2022

Ease of Doing Business for MSMEs: Higher compliance means greater complexity and greater opportunity for corruption. The government can’t keep hiring people to manage regulatory support and build enforcement capabilities.

Why the new income tax regime has few takers

Money Control | KHYATI DHARAMSI & PREETI KULKARNI | Jan. 3, 2022

This has led to additional procedural complications at both employers’ and chartered accountants’ desks. “Most organisations and their HR departments feel maintaining employees’ records on their choice between the two regimes increase the complexities and paperwork burden,” says Prashant Singh, VP & Business Head - CPO, Teamlease Services.

Companies may cut HRA, give other reimbursements to employees opting for permanent WFH

The Economic Times | Yogima Seth Sharma | Dec. 17, 2021

Prashant Singh, head and vice president, Teamlease Compliance & Payroll Outsourcing Business, said the employees opting for permanent work from home will have a change in salary stature, like in the components of HRA and professional tax. Labour welfare fund is another issue, besides the applicability of state labour laws in such situations that need to be clarified. BC Prabhakar, chairman and advocate of BCP Associates and a labour law expert, feels legislation should be avoided as work from home is an evolving concept in India.

How to make group term claim settlement smoother

Money Control | Prashant Singh | Dec. 16, 2021

Most companies offer group term plans to their employees, in addition to health insurance. To prepare for any eventuality, it is crucial for employees to have a nominee who is entitled to receive benefits. Employers should also periodically check nominations

Start-ups step in with innovative digital solutions for issues plaguing MSMEs

The Indian Express | Parthasarathi Biswas | Dec. 13, 2021

Rishi Agarwal, the CEO of the Pune-based company, pointed out how a micro-unit has to adhere to 500-900 compliances annually, which translates to 100-140 filings a year. “This would amount to 1.5 filings every second business day,” he said. Any company would have to deal with five to six consultants for these filings which are related to labour, direct tax, indirect tax (GST, etc), environment/health/safety measures, company secretary and a miscellaneous consultant who would look after various industrial licenses that need to be taken. “Other than money, the leadership team of the unit would spend considerable time in coordinating with the various consultants to ensure their unit does not default,” he said.

TeamLease Services increases stake in Avantis Regtech and renames company to TeamLease Regtech

Sakhtkhabar | | Dec. 6, 2021

Rishi Agrawal has been quoted “Corporate India faces rising demands for robustness and transparency in governance, risk and compliance. Traditional, manual, ad-hoc, paper based and people dependent compliance fail to scale. Avantis started in 2015 and entered into a strategic and equity partnership with TeamLease Services in 2018; expanding this partnership was logical as policymakers target multiple ease-of-doing business metrics to expand formal job creation.”

Increasing adoption of digital compliance solutions by pharma companies

Express Pharma | Rishi Agarwal | Nov. 28, 2021

Rishi Agrawal, CEO and Co-founder, TeamLease Regtech, explains the importance of consolidated, data-driven and real-time compliance systems for a better future of pharmaceutical companies

Automatic transfer of your EPF accounts on job change to happen soon

The Economic Times Wealth | Preeti Motiani | Nov. 26, 2021

Prashant Singh, Business Head, TeamLease Compliance quoted “So far employees had been undergoing nightmare to transfer their PF from earlier employer to the new one. Paperwork, timelines and back and forth led to confusion and delay in the entire process. With this new initiative, it would ease of the way to transfer the PF from earlier employer to new employer seamlessly. The employee just need to ensure that his/ her UAN is linked to aadhar . If not linked a small manual / offline form submission can be given to new employer to establish that this is another big relief for employee and employer as this is used to consume huge amount of time between both of them to process and transfer”

INDIA – TEAMLEASE SERVICES INCREASES STAKE IN AVANTIS AND RENAMES IT TEAMLEASE REGTECH

Staffing Industry Analysts | | Nov. 3, 2021

Rishi Agrawal, Co-founder & Director, TeamLease Regtech, said, “Corporate India faces rising demands for robustness and transparency in governance, risk and compliance. Traditional manual, ad-hoc, paper-based and people dependent compliance fail to scale. Avantis started in 2015 and entered into a strategic and equity partnership with TeamLease Services in 2018; expanding this partnership was logical as policy makers target multiple ease-of-doing business metrics to expand formal job creation.”

TeamLease Services increases stake in Avantis Regtech and renames company to TeamLease Regtech

France Network Times | Rishi Agrawal and Ashok Reddy | Nov. 2, 2021

Commenting on the partnership, Ashok Reddy, Managing Director, TeamLease Services, said, "COVID has accelerated the digitization of employer plumbing by ten years. Simultaneously, policymakers are adopting a new policy thought-world that moves beyond the now discontinued World Bank EODB ranking to an employer perspective. Regtech is important infrastructure for Putting India to Work and in anticipation of the addressable market expanding by 20X, we are excited to expand our partnership with Avantis."

Pay transparency a far cry in India

The New Indian Express | Samiksha Goel | Oct. 17, 2021

Indian industry still goes largely with partial pay as they would like to pay more to deserving candidates or to the new recruiting candidates, says Prashant Singh, Vice President and Business Head-CPO, TeamLease Services. 70% of employees in the country agree that transparency is a must and good for business, according to Teamlease, an HR firm.

Run a business? 26,134 ways to end up in jail

Financial Story | Financial Story | Sept. 30, 2021

Rishi Agrawal, CEO, Avantis Regtech, says there have been improvements in EoDB rankings. According to him, India was in the bottom quartile back in 2014 but is now in the second quartile in 2020, which is the latest ranking. “In absolute terms, significant changes have happened. But is this enough for a country that is looking to get to $10 trillion as its logical destination in this decade? The answer is no,”

Run a business? 26,134 ways to end up in jail

Financial Story | Financial Story | Sept. 30, 2021

Rishi Agrawal, CEO, Avantis Regtech, says there have been improvements in EoDB rankings. According to him, India was in the bottom quartile back in 2014 but is now in the second quartile in 2020, which is the latest ranking. “In absolute terms, significant changes have happened. But is this enough for a country that is looking to get to $10 trillion as its logical destination in this decade? The answer is no,”

Explained: All about how your EPF contributions above Rs 2.5 lakh would be taxed

Money Control | PREETI KULKARNI | Sept. 6, 2021

High-earners whose basic annual salary is over Rs 21 lakh or Rs 1,73,612 a month would be affected. For government employees, this EPF contribution threshold is higher, at Rs 5 lakh

BRIC By Brick, India’s Demographic Dream Unravels

Bloomberg Quint | Shankkar Aiyar | Sept. 2, 2021

Brazil, India, Russia, and China have the potential to alter the global economic order and China would overtake the United States and India would be the third-largest economy by 2050

Claims to be made in case of an employee’s death

Live Mint | Renu Yadav | Aug. 20, 2021

If an employee dies, EPS will be given to the spouse and two children, who must be below 25 to be eligible

Billing if an employee dies

India News Republic | Mustaksubhedar | Aug. 19, 2021

Many have lost their loved ones in covid-19. Such losses can be catastrophic, especially if the deceased is part of a family. Dependents need to deal not only with the loss but also with the paperwork pain required to make various claims in the absence of specific guidance. In this regard, here is a guide to the claims that a statutory heir or dependent must make if the deceased was an employee.

Here is what to do to get your retirement plan back on track

Live Mint | Anagh Pal | Aug. 18, 2021

While younger professionals have time on their hands to recover, for many nearing retirements, these events could have derailed retirement plans.

Govt needs to act to spur private investment

Financial Express | The Financial Express | Aug. 13, 2021

Draft e-commerce rules a good example of a policy that discourages private sector, compliance-need elsewhere also daunting

5 common mistakes that HR leaders make when it comes to labour compliance

ET HR World | Prashant Singh | Aug. 12, 2021

In the future, compliance will continue to become a more important aspect for companies and organizations will expect HR and compliance leaders to be more informed and in control so that they can enable the company to function seamlessly

Contractual, temporary roles account for bulk of jobs generated during April, May

moneycontrol.com | SHREEJA SINGH | Aug. 11, 2021

It’s a worrisome trend since these are contractual jobs with low wages and have no bargaining power. In the long term, it could impact consumption and demand, warns an expert. Companies are increasingly reducing highly paid workforce and deferring their recruitment as well.

8 reforms to end India’s regulatory cholesterol

News 18 | GAUTAM CHIKERMANE AND RISHI AGRAWAL | July 31, 2021

The 1991 reforms changed the business climate of India’s economy. The policy ended License Raj but did not move a needle on Inspector Raj.

How fresh graduates must structure their salaries for more cash in hand

Money Control | PREETI KULKARNI | July 30, 2021

Do not be swayed by a seemingly large gross remuneration package if conveyance reimbursement, variable pay and insurance premium make up a major part of it.

Fat salary but bigger risks: Is this a tech job that nobody wants?

moneycontrol.com | M SARASWATHY & SWATHI MOORTHY | July 6, 2021

Multiple liability risks involved with the job position of the Chief Compliance Officer under the IT Rules 2021 has led to these roles either taking longer to get filled, or staying vacant. Given their onerous responsibilities, that is hardly a surprise

Teamlease reveals that some states in India are moving faster than others in trying to remove archaic laws

Business Insider | BHAKTI MAKWANA | June 29, 2021

Rishi Agrawal, chief executive officer (CEO) of Avantis Regtech – a TeamLease group company explains the compliance struggle for the MSME industry

75% companies find paper-based compliance complex: Survey

https://www.livemint.com/ | Kalpana Pathak | March 31, 2021

"Managing compliance in India is an up-hill task, as the landscape is very complex. We have a universe of 1,536 Acts and 69,233 Compliances that change over 3,000 times a year. Each company not only has to deal with multiple compliance requirements but also numerous deadlines," said Rishi Agrawal, CEO, Avantis Regtech Pvt Ltd

Avantis Regtech, TeamLease’s compliance arm, improves profitability for PCS firms, with the launch of their new automation platform

APN News | APN News Author | March 10, 2021

One of the leading integrated compliance regulatory technology firms, Avantis Regtech, from the house of TeamLease Services has today announced the launch of a new automation platform – AVASEC, for practicing company secretaries (PCS).

Avantis Regtech, TeamLease’s compliance arm, improves profitability for PCS firms, with the launch of their new automation platform

CXO Outlook | CXO Editorial Team | March 10, 2021

Sharing more information about the new product, Mr Rishi Agrawal, CEO and Co-Founder, Avantis Regtech, said, “Currently more than a million companies in India outsource their secretarial compliance to PCS firms. Typically, a PCS manages 50 clients annually, in some large firms it may go up to 500.

How India can improve its EoDB

Financial Express | Rishi Agrawal | Feb. 25, 2021

Increased digitisation efforts in various areas, from inspection to compliance management to regulatory communication, could reap significant dividends

The Labor code may cause white-collar workers and managers to get paid for overtime!

NewsExpressPost | Author | Feb. 24, 2021

In the new labor regulations, professionals who work long hours may need to cheer for one thing, because if the new legislation is fully implemented, the scope of overtime pay will be expanded so that all employees and managers are welcome.

Post Budget Reaction: Startup Sector

The Via | The VIa | Feb. 2, 2021

The Finance Minister Nirmala Sitharaman presented the Union Budget 2021 on Monday where she made a lot of announcements for various sectors. This was the first budget after the pandemic where everyone had some expectations from the finance minister. Here are the reactions from the Industry experts.

Labour Code may lead to overtime pay for white-collar, managerial employees

Techno Codex | Jason Junior | Dec. 7, 2020

Professionals putting in extra hours at work may have something to cheer for in the new labour codes as the new law, if implemented in its entirety, would widen the purview of overtime pay to include all employees, including managerial staff.

Labour Code may lead to overtime pay for white-collar, managerial employees

News Robin | News Robin | Dec. 7, 2020

Pros putting in place further hours at paintings will have one thing to cheer for within the new labour codes as the brand new legislation, if carried out in its entirety, would widen the purview of time beyond regulation pay to incorporate all staff, together with managerial personnel.

Labour Code may lead to overtime pay for white-collar, managerial employees

Pehal News | Pehal News Team | Dec. 7, 2020

Professionals placing in further hours at work may have one thing to cheer for within the new labour codes as the brand new legislation, if carried out in its entirety, would widen the purview of overtime pay to embrace all employees, together with managerial workers.

Labour code may lead to overtime pay for managers too

The Economic Times | Nehal Chaliawala, Pavan Burugula | Dec. 7, 2020

Professionals putting in extra hours at work may have something to cheer for in the new labour codes, as the new law, if implemented in its entirety, would widen the purview of overtime pay to include all employees, including managerial staff.

Choked by red tape

India Today | Shweta Punj | Dec. 5, 2020

Indian firms are hobbled by endless compliances, complicated laws and overlapping regulations.

New rules to sign up for GST

U4UVoicee | U4UVoice | Nov. 23, 2020

An overhaul of the goods and services tax (GST) registration process and suspension of the registration of businesses identified as risky are among the proposals of a panel of officials attached to the GST Council.

New rules to sign up for GST

Kashmir Pen | Web Desk | Nov. 23, 2020

An overhaul of the goods and services tax (GST) registration process and suspension of the registration of businesses identified as risky are among the proposals of a panel of officials attached to the GST Council.

New rules to sign up for GST – Mint

India Finance News | Kalpana Warrier | Nov. 23, 2020

An overhaul of the goods and services tax (GST) registration process and suspension of the registration of businesses identified as risky are among the proposals of a panel of officials attached to the GST Council.

New rules to sign up for GST

Clearmytax | Clearmytax.in Editorial Team | Nov. 23, 2020

The proposals by the law committee of the GST Council, comprising central and state officials who advise its ministerial members, aim to tighten compliance measures and target restrictions on firms identified as risky

New rules to sign up for GST

Digitalrunn | Gireesh Chandra Prasad | Nov. 23, 2020

An overhaul of the goods and services tax (GST) registration process and suspension of the registration of businesses identified as risky are among the proposals of a panel of officials attached to the GST Council.

GST Council defines some New rules to GST registration will be linked to biometrics authentication

haqExpress | Nandani | Nov. 23, 2020

The proposals by the law committee of the GST Council, comprising central and state officials who advise its ministerial members, aim to tighten compliance measures and target restrictions on firms identified as risky, without affecting the convenience of doing business generally , said a finance ministry official.

GST Council Law Committee recommends Aadhaar-like registration for new applicants

The Plunge Daily | Nandika Chand | Nov. 23, 2020

The law committee of the GST Council, after two days of deliberations, has recommended for an Aadhaar-like registration process for new applicants under the GST regime. Its proposals aims to tighten compliance measures and target restrictions on firms identified as risky.

New rules to sign up for GST

Business2Business | B2B Desk | Nov. 23, 2020

The proposals of the Legal Committee of the GST Board of Directors, made up of central and state officials who advise their ministerial members, aim to toughen compliance procedures and target restrictions on companies that have been identified as risky.

The proposals by the law committee of the GST Council

Indian Revenue | Puja Aithani | Nov. 23, 2020

An overhaul of the goods and services tax (GST) registration process and suspension of the registration of businesses identified as risky are among the proposals of a panel of officials attached to the GST Council.

GST panel proposes overhaul of registration process to check tax evasion

LiveMint | Gireesh Chandra Prasad | Nov. 22, 2020

The recommendations include use of Aadhaar or Aadhaar like biometric identification for new registrations, steps to identify businesses that pose risk of revenue loss to the exchequer

Punjab govt inks settlement with GAME to help MSMEs

News24Nation | Web Desk | Nov. 3, 2020

The Punjab government has news24nationed a concurrence with the Global Alliance for Mass Entrepreneurship (GAME) to improve ‘simplicity of working together’s for MSMEs in the state under Omidyar Network India’s ‘ReSolve Initiative’. The ReSolve Initiative spotlights on giving financing backing to beacon extends that are making answers for enable miniature, little and medium endeavors (MSMEs) just as traveler laborers.

Punjab govt inks pact with GAME to support MSMEs

Economic Times | PTI | Nov. 3, 2020

The Punjab government has signed an agreement with the Global Alliance for Mass Entrepreneurship (GAME) to improve 'ease of doing business' for MSMEs in the state under Omidyar Network India's 'ReSolve Initiative'.

Latest News | Punjab Govt Inks Pact with GAME to Support MSMEs

Latestly | PTI | Nov. 3, 2020

New Delhi, Nov 3 (PTI) The Punjab government has signed an agreement with the Global Alliance for Mass Entrepreneurship (GAME) to improve 'ease of doing business' for MSMEs in the state under Omidyar Network India's 'ReSolve Initiative'.

Punjab govt inks pact with GAME to support MSMEs

Pehal News | Pehal News Team | Nov. 3, 2020

The Punjab authorities has signed an settlement with the Global Alliance for Mass Entrepreneurship (GAME) to enhance ‘ease of doing enterprise’ for MSMEs within the state beneath Omidyar Network India‘s ‘ReSolve Initiative'

Punjab govt inks pact with GAME to support MSMEs

Devdiscourse | PTI | Nov. 3, 2020

The Punjab government has signed an agreement with the Global Alliance for Mass Entrepreneurship (GAME) to improve 'ease of doing business' for MSMEs in the state under Omidyar Network India's 'ReSolve Initiative'.

We blame the Centre for low GDP, but India is run by states

Financial Express | Sanjeev Nayyar | Nov. 3, 2020

Rishi A wrote in the ORF, “India’s businesses function in a regulatory universe of 1,536 Acts that demand 69,233 compliances and 6,618 filings across the Union and state governments. Of these, almost a third (30%, or 463) of the laws and almost half (47%, or 32,542) compliances come under the labour category. Statistically, almost all the compliances (97.1%) are governed by state governments and 937 by the Union government.”

Punjab Inks MoU With The Global Alliance for Mass Entrepreneurship (GAME) In Partnership With Omidyar Network India

Business World | BW Online Bureau | Nov. 3, 2020

In order to ensure the ease of doing business for the MSMEs in Punjab, Government of Punjab has signed a Memorandum of Understanding (MoU) with The Global Alliance for Mass Entrepreneurship (GAME), supported by Omidyar Network India (ONI).

Punjab govt inks pact with GAME to support MSMEs

Outlook India | PTI | Nov. 3, 2020

The Punjab government has signed an agreement with the Global Alliance for Mass Entrepreneurship (GAME) to improve ''ease of doing business'' for MSMEs in the state under Omidyar Network India''s ''ReSolve Initiative''.

Punjab inks MOU with game to support msmes, in partnership with Omidyar Network India

5 Dariya News | Web Admin | Nov. 2, 2020

In another significant step towards ensuring ease of doing business by simplification, digitization and decriminalization of compliances, Government of Punjab has signed a Memorandum of Understanding (MoU) with The Global Alliance for Mass Entrepreneurship (GAME), supported by Omidyar Network India (ONI), an investment firm focused on social impact, under its recently announced ReSolve Initiative.Punjab is home to 2.59 lakh MSMEs that employ a total of 20.29 lakh employees

Centre’s new labour codes leave room for rule-making, interpretation

Business Line | V Narayan | Oct. 6, 2020

Though the labour code’s aims are lofty, it’s silent on matters like determination of minimum wages, eligibility criteria

Labour reforms: Future-ready but devils of detail lie in states

Observer Research Foundation | Gautam Chikermane, Rishi Agrawal | Oct. 3, 2020

Overhaul, not patchwork; good, not perfect; green shoots, not forest. The assimilation of 44 Union labour laws into four codes and 1,458 sections into 480 (a fall of 67 percent or the removal of two out of three sections on average) by Parliament should, if the baton of intent is taken up by state legislatures enacting their rules in the race of growth and prosperity, deliver a business environment more in tune with the future.

Labour reforms: Still a long way to go for India, says Rishi Agrawal, co-founder & CEO, Avantis Regtech

Financial Express | FE Bureau | Sept. 26, 2020

There are different due dates, multiplicity of forms and formats, duplication and redundancy in record-keeping requirements, complex procedures, ambiguous interpretations, leading to a really complex regulatory environment.

New labour laws are pro-business, anti-workers

Business Today | Sonal Khetarpal | Sept. 25, 2020

The three labour codes seen together fail to achieve even reasonable balance between enabling of ease of doing business, and protecting & strengthening labour welfare and their rights

Maharashtra lags behind in "Ease of Doing Business"

Sakal | MCCIA | Sept. 8, 2020

Maharashtra lags behind in "Ease of Doing Business''. Businesses should be inspected online. MCCIA and Avantis RegTech Pvt. Ltd. suggested state government.

Reduce state-level regulatory cholesterol to aid job creation

Live Mint | Manish Sabharwal & Rishi Agrawal | Sept. 7, 2020

The compliance burden imposed by states on enterprises is too thick for them to flourish and generate formal employment.

MSME revival may only be possible from the next fiscal

The Week | Abhinav Singh | Aug. 12, 2020

Despite revival measures by the government that have gradually unlocked the Indian economy following coronavirus-induced lockdowns, the revival of Micro, Small, and Medium Enterprises (MSMEs) is unlikely anytime soon, with prospects for recovery only by the next fiscal year.

Zee Business makes clarion call - Kam Caro Compliance!

Zee Business | ZeeBiz WebTeam | Aug. 10, 2020

Doing business in India is not exactly easy - much better than before, but still requires work. Business compliance can actually take a toll on you. The government has been doing its bit to enable Ease of Doing Business in the country and it has gone a long way in simplifying the many processes. However, these still remain a burden on businesses.

India’s small firms are staring into the abyss

Livemint | Goutam Das | July 28, 2020

A ground report reveals that many MSMEs are fighting a grim battle for survival. What can save the day? If small companies start winding up, it could exacerbate the supply-side issues of corporate India up the value chain. It could also have a big impact on the economy and employment

The real issue: Businesses need to comply with 194 labour laws, spend Rs 4.58 lakh per annum

The Economic Times | Amol Kulkarni & Rishi Agrawal | July 18, 2020

A typical MSME is required to deal with 364 compliances in a year i.e. one compliance a day, with adverse consequences including penalties and imprisonments, in some cases of non-compliances. Of these, 194 are labour related.

India’s ‘Regulatory Cholesterol’ Still Obstructs Ease Of Doing Business

Bloomberg | Quint | BQ Desk | July 12, 2020

India's notorious red tape continues to hamper ease of doing business despite recent gains. Businesses have to deal with a combined 1,536 acts, 69,233 compliances and make almost 7,000 filings in the country, an analysis by TeamLease, a staffing, regulatory and compliance management firm, showed. States with larger economies such as Gujarat and Maharashtra have more than 3,000 compliance requirementes each.

Shed regulatory cholesterol

India Today | Manish Sabharwal & Rishi Agrawal | July 11, 2020

India’s regulatory cholesterol is a direct result of the Avadi Resolution of 1955 that murdered competition, kneecapped capital markets and distrusted entrepreneurs.

To convert Atmanirbhar Bharat into reality, Modi needs to wage a war

Observer Research Foundation | Gautam Chikermane, Rishi Agrawal | July 4, 2020

For Prime Minister Narendra Modi’s 12 May 2020 political slogan of Atmanirbhar Bharat to become a reality, he will have to wage a war. In this war, words and slogans will not do; at best they will be a starting point. This war will challenge an enemy that is deeply and integrally embedded in the political economy of India. It will have to obliterate the vested interests of a corrupt establishment. It will have to destroy carefully-created edifices of an unaccountable, entitled and rent-seeking economic system where the incumbent beneficiaries will fight back.

Rationalisation, decriminalisation, digitsation: The three-pronged view to reduce MSME compliance burden

Financial Express | Rishi Agrawal | June 30, 2020

Ease of Doing Business for MSMEs: The burden of compliance for MSMEs is disproportionately high while their resources are limited. They need to deal with 27 licenses, registrations, permissions and consent orders.

Regulatory Changes in India in the Time of COVID19: Lessons and Recommendations

Observer Research Foundation | Gautam Chikermane, Rishi Agrawal | June 10, 2020

This report tracks the changes to India’s business regulatory framework in the first 40 days of the nationwide lockdown due to the COVID-19 virus. The Union and state governments have been highly proactive in creating spaces for doing business while managing the ongoing health crisis. The governments have attempted to modify the business-related legal infrastructure within the confines imposed through the lockdown.

Work from home: Employee benefits set for overhaul as companies redraft rules

live mint | Kalpana Pathak, Romita Majumdar | May 16, 2020

Mumbai: Companies are taking a relook at employee benefits and employer liabilities as a majority of their staff work from home amid the lockdown. Human resource consultancy firms say companies are increasingly trying to understand how liabilities change for them going forward, as a vast workforce remains at home.

Labour Reforms: Drug of choice for economic resuscitation during Covid-19

TaxGuru | Rishi Agrawal | May 16, 2020

The huge economic costs of Covid-19 virus are clearly visible. Everything that India does to kill the virus is killing the economy. The Centre and States have done well to protect lives so far. However, it is time to move forward and protect the livelihood as well. Restarting the stalled economy is an unprecedented public policy challenge.

India to benefit from US-China trade war: Experts

The Economic Times | Press Trust of India | May 16, 2020

The ongoing trade war between the US and China will help India tap export opportunities in both the countries in areas such as garments, agriculture, automobile and machinery, according to trade experts.

COVID19: Shivraj Singh Chouhan initiates Reforms 2.0 in Madhya Pradesh

ORF | Gautam Chikermane, Rishi Agrawal | May 8, 2020

India’s encounters with economic reforms remain steeped in disbelief. Or, shall we say, preconceived notions, anchored in the status quo of the past, prevent us from observing, leave alone celebrating, them. The underreporting of ground-zero reforms unleashed by Madhya Pradesh Chief Minister Shivraj Singh Chouhan on 7 May 2020 is a classic case. Perhaps, it is to do with the language Chouhan used — Hindi, and not English. Or, it has been downplayed in the national media because these policies pertain only to the state of Madhya Pradesh. Or, and we believe this could be the biggest reason, the inherent bias against the BJP (that the Party and BJP-governed states) can and will do nothing on economic reforms.

COVID-19: Yogi Adityanath attempts reforms, delivers regulatory chaos in Uttar Pradesh

ORF | Gautam Chikermane, Rishi Agrawal | May 8, 2020

The 8 May 2020 notification by the Uttar Pradesh government suspending all labour laws is unconstitutional and regressive. Hurriedly drafted with little more than a short-term outlook, it will not attract any investment into India’s most populous state. Worse, it could create labour-capital hostility and cart the state back to the 1970s, with constant clashes between trade unions and managements.

As India readies to work from home, a compliance alert

ORF | Rishi Agrawal | March 19, 2020

Every economic shock leaves a legacy. The deadly coronavirus will be no different. This time it’s a public health emergency that’s shaking up the world economy. In just a few weeks, Coronavirus has changed how we meet and greet each other, how we work and how our children are educated. Offices around the world are empty. This has unwittingly sparked off a giant global experiment in mass remote working. Our work environment is suddenly being reinvented. What demonetisation did to digital payments, corona may end up doing to the future of work. Remote working is an idea whose time has come.

Companies can lay off employees after contract, season is over; bill tabled in Lok Sabha

| Samrat Sharma | Nov. 27, 2019

Rishi Agrawal, CEO and CoFounder of Avantis Regtech and Rituparna Chakraborty, VP, TeamLease Services share their views on the Industrial Relations Bill 2019 tabled in the Lok Sabha on 28th November 2019.

Govt must lead by example and respect the contracts it enters into

| Sumita Kale | Nov. 13, 2019

In its quest to reach the top 25 in EoDB ranking, India may find it quicker to move ahead in other parameters, for contract enforcement, the challenges are deeply rooted.

The gain and the pain of ease of doing business in India

| Sumita Kale | Oct. 28, 2019

In its update on the first 100 days of the new government, the DPIIT announced that the National Ease of Doing Business Policy has been finalised. While specific details are not yet out in the public domain, this policy reportedly puts the onus on government departments to measure the time and cost spent by companies on licences, registrations, renewals and the like and work towards rationalising the burden, simplifying and digitising the compliance process. Done well, the National Ease of Doing Business Policy can mark a paradigm shift in the way the government views regulation. Easing the compliance burden is the game-changing move that our businesses need to unleash their productivity, the move that we desperately need to realise our goal of a 5 trillion dollar economy, the move that will take India into the top 25 ranks in the world.

India’s Ease of Doing Business rank no cheer for MSMEs

| Sumita Kale | Oct. 23, 2019

When it comes to delayed payments, a digital, impersonal, transparent solution should have a better impact than a compliance driven one. In any case, the government should do away with the MSME Form 1, which is the half yearly return with the Registrar of Companies on outstanding payments to micro or small enterprises. Instituted early this year, this form asks all companies, including MSMEs, to give details on outstanding dues to micro and small companies, and reasons for those. This half yearly return has increased the compliance burden on MSMEs and more pertinently, the additional paperwork has had no impact on improving the culture of payments. As a starting point, the MCA can consider mandating this return only for large companies, with turnover more than Rs 250 crore.

India ranks 63 in World Bank's Ease of Doing Business

| | Oct. 23, 2019

Rishi Agrawal, Co-Founder and CEO Avantis Regtech Pvt Ltd For the third year in a row, India has been one of the top improving economies in the World Bank Ease of Doing Business ranking. This reflects the government's determined push towards reforms. India's rank has improved from 77 last year to 63 this year. India's reforms have stood out in four categories out of 10 - Starting a new business, Dealing with construction permits, trading across borders and resolving insolvency. This is extremely commendable. Further, there is a strong possibility that India breaks into the top 50 next year, the reforms since June 2019 (including the rate cut for corporates, easing GST returns process etc.) will be reflected only in the exercise next year. However, despite this creditable achievement, Indian businesses continue to be plagued by a high compliance burden of over 58,000 compliances, more than 3000 returns and over 2500 changes every year. To give just one instance of the high compliance burden, for a startup working from a home office or shared space, within its first year, it needs to obtain registrations under at least seven regulators and file a minimum of 18 returns to a maximum of 69 returns - this has to be rationalised at the earliest. The government needs to be focused on reforms in the three vector framework of rationalisation, digitisation and simplification, particularly in the categories that continue to stand out with poor performance - starting a new business (Rank 136), registering property (Rank 154) and enforcing contracts (Rank 163).

“Reducing compliance burden key for safe food”

| Nandita Vijay | Oct. 13, 2019

An interview with Rishi Agrawal, co-founder and CEO, Avantis Regtech on the compliance burden in food processing industry in India.

The steel frame has become a cage. A $10-trillion economy needs deep civil service reform

| Manish Sabharwal | Oct. 8, 2019

Manish Sabharwal highlights the need for civil service reform " Cutting edge economics views development as a game of scrabble where vowels provided by the government enable the private sector to make more words and longer words. The current civil service fails to provide enough vowels; the steel frame has become a cage"

Key Challenges faced by Compliance Officers in India

| Rishi Agrawal | Oct. 1, 2019

Rishi Agrawal explains the key challenges faced by Compliance Officers in India and why a digital compliance management solution is critical for companies.

Trimming The Vexatious Angel Tax: Where It Puts India On Growth Map

| Rishi Agrawal | Sept. 29, 2019

Even as government policy is to encourage startups, the tendency to get bogged down in fine details in compliance hurts the ecosystem. For a startup working from a home office or shared space, within its first year, it needs to obtain registrations under at least seven regulators and file a minimum of 18 returns to a maximum of 69 returns. While framing policy and compliance in India, the government should keep in mind that this segment is particularly sensitive to regulatory uncertainty, lack of clarity and frequent changes. More moves towards ease of doing business will unleash innovation from young entrepreneurs

TeamLease launches compliance aggregator app Rulezbook to simplify filings

| Sonal Khetarpal | Sept. 5, 2019

To simplify the regulatory and statutory universe, human resource company Teamlease has launched an AI-based compliance content aggregator app Rulezbook to help individuals and companies get updates on changes in compliances that are relevant to them in a language that is easy to understand, all in real time. Users can also register on their website www.teamleasecompliance.com to get personalised updates in their inbox to be on top of their game. The Rulezbook App (available for download from the Google and Apple stores) can be personalised on the basis of an employer, policy maker or individual's interest, geography of operations, sectors and other details. It is available free of cost to all users.

Staffing firm TeamLease launches website to track rules on compliances

| Prachi Verma | Sept. 4, 2019

Teamlease Services has launched a compliance cloud -website called teamleasecompliance.com and an app RulezBook through its regulatory technology (regtech) subsidiary-Avantis. The website and app will help employers or companies in getting access and track rules and filings on compliances.

Teamlease launches web portal to help firms navigate compliance repository

| Somesh Jha | Sept. 3, 2019

TeamLease Services, a human resource firm, launched a web portal www.teamleasecompliance.com through which companies in India can keep track of a comprehensive set of compliance rules and regulatory filings at the state, central and local level. It also launched a mobile application, Rulezbook App, for a similar purpose. In India, companies are required to take care of 58,726 compliances, involving 1,074 Acts related to labour, finance, taxation, secretarial, commercial and industry specific rules and it involves 3,069 annual filings. Of this, most compliances are related to the labour laws, both at the state and the central level. “At present, there is no repository of this sort in the country. This is real-time in nature and companies can get regular updates on regulations and compliances delivered to them on e-mail based on their requirements. This is a free of cost service which will enable 'ease of doing business'," Rituparna Chakraborty, co-founder and executive vice-president at Teamlease Services said, while launching the product.

Startup founders cheer withdrawal of Angel Tax; say decision will boost ecosystem

www.forbesindia.com | HARICHANDAN ARAKALI | Aug. 25, 2019

“The pain felt by startups has been heard,” Rishi Agrawal, co-founder and CEO of Avantis Regtech, said in an email to Forbes India. “This will go a long way in easing the initial capital funding challenges for startups,” he said.

Taxing times: Compliance complexity a big challenge for businesses

https://www.financialexpress.com/ | Sumita Kale | Aug. 21, 2019

India’s tax challenge is not the rates per se, it lies in the complexity of compliance. Indian businesses struggle with more than 9,000 compliances and 600+ filings, and there have been more than 600 updates over the past year

Avantis Regtech sees compliance as a critical component in pharma sector to improve its performance

http://www.pharmabiz.com/ | Nandita Vijay | Aug. 19, 2019

Avantis Regtech, a SAAS solution provider, sees that pharma compliance is critical across drug manufacture to marketing. This is because compliance requirements reduces operational, reputational and financial risks. Regulatory compliance is top on the agenda as Indian firms are looking to spend a higher proportion on capex for upgrading infrastructure for regulatory compliance over the next decade. Our web and mobile platforms, enable a transparent, accountable and efficient risk and compliance management. Indian businesses are finding it increasingly challenging to cope with the increased regulatory compliance burden. The pharmaceutical sector is particularly hard hit. Our clients in pharma sector have reported significant improvement in the ease with which regulatory compliance is now being met as our web and mobile based platforms, enable a transparent, accountable, efficient real-time compliance management system, said Rishi Agrawal, co-founder and CEO, Avantis RegTech.

It’s time to change the way India does business

www.financialexpress.com | Rishi Agarwal & Sumita Kale | July 12, 2019

In her Budget speech, Nirmala Sitharaman put a greater spotlight on Ease of Doing Business through many measures—simplifying GST process, e-assessments for tax, interchangeable Aadhaar and PAN, etc. The government’s intent to further simplify procedures, reduce red-tape and make the best use of technology was clearly set out. However, there was no reference of a refreshing, revolutionary move that is already on the cards. A draft Cabinet note has reportedly been circulated last month on the National Ease of Doing Business Policy, where, for the first time, we see the government holding the bureaucrats accountable for the compliance requirements they place on businesses.

Opinion | A good nudge to relieve businesses of regulatory sludge

Live Mint | Sumita Kale | July 12, 2019

Now that India’s policymakers have taken on board Richard Thaler’s principle of nudge, it is time to get them moving faster on another track he has been advocating recently—removing sludge.

Why Ease Of Doing Business Is Vital For Indian Startup Ecosystem

Inc42 | Rishi Agarwal | July 3, 2019

The Indian startups have been rising mainly due to increasing aspirations of educated youth. Government initiatives like ‘Make in India’ and ‘Startup India’ are aimed at creating a conducive ecosystem for business growth and are working towards promoting ease of doing business in the country.

The changing nature of jobs

Economic Times | Sumita Kale | June 30, 2019

Most young Indians look for a permanent, preferably government, job, which incidentally also works well for the marriage market. Unfortunately, such jobs are really in short supply and not set to increase in the future. So often we see news like this – “more than 50,000 graduates, 28,000 PGs and 3700 PhDs have applied for 62 vacancies of messengers in the UP Police’s telcom wing, for which minimum eligibility is Class V”! The preference for a government job is due to the respectability it brings, and the assurance of a job for lifetime followed by a pension. One way to ease the stress is by meeting the aspirations of the youth through New Age jobs.

Budget 2019 | Five things the government can do to boost jobs

Moneycontrol | Sumita Kale | June 21, 2019

The new government wants a $5 trillion economy by 2024. For this, the Union Budgets need a strategy to achieve around 8 percent annual growth. A critical component will be creating 80-90 lakh new jobs annually, to accommodate not just additions to our workforce, but also their aspirations.

Digitisation agenda for the Budget

Economic Times | Sumita kale | June 20, 2019

We usually do not think of the government as a leader in any consumer space, so most people are surprised when they hear that India’s biggest e-commerce portal is IRCTC, not Amazon or Flipkart. What’s more interesting however is that internet ticket reservation, which we all take for granted now, began way back in 2002, a visionary move at a time when net access was nothing like it is today.

Opinion | Tackling regulatory cholesterol to reduce our farm dependence

Live Mint | Manish Sabharwal & Sumita Kale | June 3, 2019

Writer C.S. Lewis said, “You can’t go back and change the beginning but you can start where you are and change the ending." Indian farmers are poor because they have too many colleagues and the productivity programmed into these 45% of our workers generating 14% of our gross domestic product (GDP) represents a perpetual condemnation to poverty.

Meeting India’s aspirations through EoDB 3.0

Economic Times | Sumita Kale | May 29, 2019

All said and done, the challenge for any government lies in meeting the aspirations of its people. If we look back at how India’s aspirations have been changing, we find one sharp turning point coming in 1991. Check out http://indiabefore91.in/stories for a collection of memories of the license-permit raj, that will sound unreal now to most Indians. Today’s youth knows and cares little about the headaches of the past. Ready to take on the world, armed with cheap data packs on their mobile phones, it is the aspirations of these Indians that the government has to take on.

Why Nyuntam Aay Yojana won’t end poverty

Economic Times | Manish Sabharwal | April 22, 2019

Poverty is not like cancer where every malignant cell must be removed or will come back. The 1971 surrender by Lieutenant General AAK Niazi in Bangladesh with 93,000 soldiers is a perennial source of Pakistani shame. But history is kinder to General Niazi’s legacy; he was cut off from his army, his troops were low on rations, the local population was hostile, and he presided over East Pakistan for only two days. In other words, he faced an impossible situation.

Why NYAY won’t end poverty: Promise of income without work represents a panicked pessimism about India and her people

The Times Of India | Manish Sabharwal | April 22, 2019

The 1971 surrender by Lieutenant General AAK Niazi in Bangladesh with 93,000 soldiers is a perennial source of Pakistani shame. But history is kinder to General Niazi’s legacy; he was cut off from his army, his troops were low on rations, the local population was hostile, and he presided over East Pakistan for only two days. In other words, he faced an impossible situation.

Creating a place for poetry in business

Business Standard | Manish Sabharwal & Sumita Kale | April 16, 2019

Business Standard Entrepreneurs now require fewer mandays, fewer documents and fewer trees annually to start a business Manish Sabharwal & Sumita Kale Last Updated at April 17, 2019 00:54 IST Follow this columnist https://mybs.in/2X5Iwrt The political adage of campaigning in poetry but governing in prose means election season often involves dangerous populist promises. Populist politicians often suggest Scandinavian social democracies as inspiration but forget that the World Bank’s Ease of...

Back Again From Rules to Deals

The Economic Times | Manish Sabharwal | April 3, 2019

One reason India remains poor is because of its regulatory policy of ‘Show me the person and I will show you the rule’. This has led to the notion that rules in this country are made, tweaked and enforced according to the wealth/power/connection of individual under investigation. Before the 1991 reforms, entrepreneurs spent half their time in Delhi because a licence meant ‘hostages’, not ‘customers’.

View: Congress' Nyuntam Aay Yojana simply doesn’t work

The Economic Times | Manish Sabharwal | March 27, 2019

Poverty eradication needs moving Indians to more productive sectors. By Manish SabharwalCongress, this week, proposed the transfer of Rs 6,000 a month into the bank accounts of 50 million families comprising the poorest of the poor with its Rs 3.6 lakh crore minimum income scheme, Nyuntam Aay Yojana (NYAY), if voted into power.

It’s a wage crisis

Indian Express | Manish Sabharwal | Feb. 14, 2019

The debate around unemployment is unhelpful — since 1947, unemployment has bounced between 3-7 per cent of India’s labour force. But reconciling this mathematical accuracy with our painful poverty — it has bounced between 25-75 per cent of our population since 1947, based on your definition of needs, wants and desires — needs an understanding of the “self-exploitation” theory proposed by the Russian economist Alexander Chayanov in the 1920s. <

Diagnosing the job crisis

Indian Express | Manish Sabharwal | Jan. 18, 2019

What makes farm loan waivers attractive election rhetoric? Why did the new Madhya Pradesh government mention restrictions on inbound out-of-state migration? And will the 10 per cent economically backward reservation be enough when less than 1 per cent of new jobs are government jobs? I make the case that all three interventions are symptoms of one disease — India’s millions of murdered formal MSME employers.

Opinion | Changing the Indian state from bully to ally

Live Mint | Manish Sabharwal & Sandeep Agarwal | Dec. 13, 2018

The next avatar of our EODB programme must aim to decisively shift the Indian state from being an MSME bully to an MSME allyA dictionary suggests that a bully is “someone who frightens someone else” and an ally is “someone who helps and supports someone else”. Do our 63 million micro, small and medium enterprises (MSMEs) view the Indian state as a bully or an ally? <

Ludo vs Snakes & Ladders

Indian Express | Manish Sabharwal | Nov. 28, 2018

Ludo and Snakes & Ladders are both very different games even though both involve rolling a dice. Ludo is more laborious, but you know where you are going, and you will eventually get there. In Snakes & Ladders, the ladders create an illusion of accelerating progress, but the game has more snakes than ladders, the snakes are often longer than ladders, and progress is therefore volatile, patchy and unpredictable. I’d like to make that case that a) success in creating fertile habitats for formal job creation — ease-of-doing business (EODB) — is more like Ludo rather than Snakes & Ladders and the work of decades, b) India’s move from 142 to 77 in EODB rankings over the recent past is a self-fulfilling prophecy that should be celebrated more, and c) our urgent and unfinished agenda in EODB is regulatory rationalisation and civil service reform. Let’s look at each in more detail.

Ease of Show Business

Economic Times | Manish Sabharwal & Rishi Agarwal | Aug. 26, 2018

In 1948, Vallabhai Patel wrote to Jawaharlal Nehru, "The economic malaise the country has been suffering continues because we have been unable to secure the cooperation of Industry. Unfortunately, for India's youth and business, the 1955 Avadi Congress resolution ignored his concern and began and multi-decade discouragement of cooperation with industry that made India a hostile habitat for private Job Creation.

Avantis - Transforming Your Governance, Risk and Compliance Processes

CIO Review | Emmanuel Cristi Das | Oct. 6, 2017

Avantis bring highly flexible, scalable and secure technology which is user-friendly. The company has automation solutions in Compliance, Audit, ICFR and Loan against Shares Management. Avantis solutions help businesses migrate from ad-hoc, people-dependent and manual processes to institutionalized, process-oriented and automated processes.