New Delhi, Mar 2 (KNN) With a view to improve ease of doing business, the Commerce and Industry Ministry has proposed  some modifications to simplify filing procedure for industrial entrepreneur memorandums (IEMs).

In this context, the Ministry of Commerce’s arm, Department of Industrial for Promotion of Industry and Internal Trade (DPIIT) in a draft note said "As a measure to improve ease of doing business, the extant requirement of filing IEMs at two stages (IEM Part A: Intent and IEM Part B: Implementation) stands dispensed with for all business not requiring an industrial license".

In respect of new projects for manufacturing of articles not covered by the compulsory licensing of their substantial expansion, the only requirement will be to file a memorandum.

The memorandum will have to be filed online using services provided on the website of department within 120 days of commencement of commercial production, it said.

The department will expeditiously acknowledge the receipt of the memorandum.

"No acknowledgement shall be refused for the reason that the memorandum is filed after 120 days," it added.

As per annual report of the department, all units that are exempted from obtaining an industrial license, and invest more than Rs 10 crore in plant and machinery (Rs 5 crore for the services sector) are required to file an IEM with the government.

Filling an IEM is primarily for the purpose of collecting data about the delicensed sector on proposed investment and type of industrial activity. It was started in August 1991.