Since the enactment of the Companies Act, 2013, several reforms have been brought out by the Ministry of Corporate Affairs, Government of India in line with the overall objective of reducing cost of compliances and Ease of Doing Business in India. Sustained business reforms over the past several years have helped India improved its ranking to move to 63rd position as per World Bank’s Ease of Doing Business Report 2020 against the 142nd rank in the year 2014 and 77 in the year 2019. This shows that the current regulatory
environment is more conducive to the start-ups and businesses. One such noteworthy reform is towards incorporation of a company for which the process has been greatly simplified with significant reduction in time to incorporate a company in the country.

Going forward as a part of Ease of Doing Business (EODB) initiatives in India, the Government has brought in the advanced integrated form SPICe+ (eForm-32) which is an integrated web form offering 10 services by 3 Central Government Ministries & Departments (Ministry of Corporate Affairs, Ministry of Labour & Department of Revenue in the Ministry of Finance) and One State Government (Maharashtra), thereby saving as many procedures, time and cost for Starting a Business in India.

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