New Delhi, Feb 13 (KNN) Many procedures have been simplified in India to improve Ease of Doing Business environment, Economic Affairs Secretary Shaktikanta Das adding that a new company can be started in just two days by getting online permissions.

Das met delegation of Chinese media persons in the national capital today.

He said, “We are focusing on transferring subsidies directly to the bank account of the beneficiary through DBT. DBT is to ensure that benefit reaches the poor directly and there is no scope of leakage.”

The Economic Affairs Secretary said many procedures have been simplified to improve ease of doing business environment in the country and the clearances are being given very quickly now.

“Now in India, you can start a new company in just two days by getting online permissions,” he said.

Stressing that India values its economic ties with China, Das said Chinese President during his visit to India in 2104, had announced USD 20 billion investment in India which has started flowing now.

He said India is looking at more investment inflow from China and the Embassy is working closely with China for this.

Highlighting the huge trade deficit that India has with China, Das said, “For sustainable trade relationship, balance of trade is required between India & China.”

Total trade between India and China in 2016 was USD 71 billion. India had a very wide trade deficit of $46 billion in this.

India is very strong in IT software and Pharma and would like to export these to China along with fruits, fish & vegetables, said Das.

He sought greater market access to China for India.

On GST, he said China had showed a lot of interest in India’s GST. GST will improve business environment and GDP growth. (KNN Bureau)