Union Minister Piyush Goyal Announces 80% Licensing Fee Concession for Women Entrepreneurs
Union Minister Piyush Goyal Announces Major Concessions for Women Entrepreneurs and MSMEs
Union Minister Piyush Goyal announced an 80% concession in licensing fees for women entrepreneurs and a 50% fee reduction for MSMEs. According to a press release by the Ministry of Commerce and Industry, these incentives aim to encourage greater participation and entrepreneurship among women and MSMEs.
The Ministry of Commerce & Industry, led by Union Minister Piyush Goyal, emphasized the need to balance industry compliance with public safety during a Stakeholder Consultation held in New Delhi. Convened by the Department for Promotion of Industry and Internal Trade (DPIIT), the consultation focused on enhancing the efficiency of the Petroleum and Explosives Safety Organisation (PESO) and fostering dialogue with stakeholders from the petroleum, explosives, fireworks, and related industries.
Addressing safety concerns, Minister Goyal directed PESO to collaborate with the Central Pollution Control Board (CPCB) and the Ministry of Petroleum and Natural Gas (MoPNG) to establish safety guidelines. These guidelines will ensure the safe operation of petrol pumps in areas with habitation within 30-50 meters.
To streamline regulatory processes, Goyal underscored the importance of adopting global best practices. Initiatives include integrating Third-Party Inspection Agencies (TPIAs) into more regulatory processes and developing online permission modules to replace offline procedures, thereby enhancing efficiency and transparency.
The consultation, attended by over 150 stakeholders from various industrial sectors, provided a platform for industry associations like the Federation of Agrivalue Chain Manufacturers and Exporters (FAME) and the Explosives Manufacturers Welfare Association (EMWA) to highlight critical regulatory areas needing improvement. Recommendations focused on digitalization, transparency through the PESO online portal, and expedited issuance of necessary clearances.
In response to industry feedback, committees comprising MoPNG, industry associations, and regulatory bodies were formed to explore and recommend amendments to enhance regulatory frameworks. The Ministry affirmed its commitment to reducing compliance burdens, promoting ease of doing business, and upholding industry standards through collaborative reforms.
The stakeholder consultation marked a pivotal step towards fostering a conducive regulatory environment for the petroleum and explosives sectors. DPIIT’s ongoing engagement with stakeholders underscores its dedication to incorporating industry insights, driving regulatory reforms, and ensuring safety across hazardous substance industries.
