In its bid to ensure a sustainable growth rate in India, the Centre on Friday said it was in the process of amending certain provisions of the Companies Act, 2013 in order to overcome hurdles affecting hassle-free industrialisation.
‘Several hindrances can be removed by just amending certain provisions of the Companies Act. As industry and manufacturing sector contributes to the growth, it is essential to improve the business environment in the country,’ Union Minister of State (Independent Charge) for Commerce and Industry Nirmala Sitharaman said.
Sitharaman said this while addressing the National Symposium on Manufacturing and Best Practices to Improve the Business Environment jointly organised by Odisha government's Industries Department and Department of Industrial Policy and Promotion.
‘There are several aspects to the Companies Act that need a relook. Some of them need to be changed while others need to be corrected to improve the ease of doing business in the country,’ she told reporters after the meeting.
Stating that the Centre had a day-long session on the issue on 21 June, she said ‘So, some corrections to the rules are happening and we expect to complete the whole exercise in the next few months.’
‘Several hindrances can be removed by just amending certain provisions of the Companies Act. As industry and manufacturing sector contributes to the growth, it is essential to improve the business environment in the country,’ Union Minister of State (Independent Charge) for Commerce and Industry Nirmala Sitharaman said.
Sitharaman said this while addressing the National Symposium on Manufacturing and Best Practices to Improve the Business Environment jointly organised by Odisha government's Industries Department and Department of Industrial Policy and Promotion.
‘There are several aspects to the Companies Act that need a relook. Some of them need to be changed while others need to be corrected to improve the ease of doing business in the country,’ she told reporters after the meeting.
Stating that the Centre had a day-long session on the issue on 21 June, she said ‘So, some corrections to the rules are happening and we expect to complete the whole exercise in the next few months.’