‘Govt steadfast in easing regulatory burdens, taking steps to make India export-friendly’

New Delhi: Finance Minister Nirmala Sitharaman on Tuesday said the government remains steadfast in reducing regulatory burdens, besides enhancing trust-based governance and taking steps to make India a “seamless, export-friendly” economy.

A robust manufacturing sector free from unnecessary regulatory bottlenecks will further attract both domestic and foreign investments, driving economic growth, positioning India as a trusted global player, Sitharaman said while addressing a post-budget webinar on ‘MSMEs as engine of growth, manufacturing, exports, regulatory, investment and EoDB Reforms’.

“Our government remains steadfast in reducing regulatory burdens and enhancing trust-based governance to improve the ease of doing business. Through the budget announcements, we are taking various steps towards making India a seamless, export-friendly economy, one where businesses are free to focus on innovation and expansion, and not paperwork and penalties,” Sitharaman said.

In her 2025-26 Budget speech, the minister had announced that a high-level committee for regulatory reforms will be set up for a review of all non-financial sector regulations, certifications, licences, and permissions.

“The committee will be expected to make recommendations within a year. The objective is to strengthen trust-based economic governance and take transformational measures to enhance ‘ease of doing business’, especially in matters of inspections and compliances,” said the Budget speech.

Sitharaman said decriminalisation of business related laws reduces the legal risks, allowing industries to operate with greater confidence. Over 42,000 compliance requirements have already been removed, and over 3,700 legal provisions have been decriminalised since 2014. In the Jan Vishwas Act 2023, more than 180 legal provisions were decriminalised.

“Our government will now bring up the Jan Vishwas Bill 2.0 to decriminalise more than 100 provisions in various laws. It will further simplify processes for businesses,” Sitharaman said.