Media
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.
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 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.
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 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 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
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.
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
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.
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.
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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.
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.
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.
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.
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
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.
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"
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 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 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.”
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.
'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.
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
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.
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.
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.
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.
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.
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.
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.
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.
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.”
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."
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
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 | 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.
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.
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.
Aapki khabar Aapka Fayda
Zee Business | RISHI AGRAWAL | Feb. 11, 2022
On Commodity With Rishi Agrawal, TeamLease RegTech
‘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.
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
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.
‘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.
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.
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.
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."
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.
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 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”
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.
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.
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.
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
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.
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.
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
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.
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.
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 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).
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'.
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''.
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 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'.
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.
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.
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.
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.
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.
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.
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 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).
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.
“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 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.
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.
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.