In New Delhi [India], Union Minister Piyush Goyal announced a substantial 80 per cent concession in licensing fees for women entrepreneurs and a 50 per cent fee reduction for MSMEs.
According to a press release from the Ministry of Commerce and Industry, these incentives are expected to encourage greater participation and entrepreneurship among women and MSMEs.
The Ministry of Commerce and Industry, under the leadership of Union Minister Piyush Goyal, emphasized the crucial balance between industry compliance and public safety during a Stakeholder Consultation held in New Delhi.
The consultation, convened by the Department for Promotion of Industry and Internal Trade (DPIIT), aimed to improve efficiency within the Petroleum and Explosives Safety Organization (PESO) and encourage dialogue with stakeholders from the industries oil, explosives, fireworks and other related industries.
To address 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 facilitate the operation of petrol pumps in inhabited areas between 30 and 50 metres, ensuring that strict safety measures are followed.
To streamline regulatory processes, Goyal stressed the importance of adopting global best practices. Initiatives include the integration of Third Party Inspection Agencies (TPIA) into more regulatory processes and the development of online permitting modules to replace offline procedures, thereby improving efficiency and transparency.
The consultation, attended by over 150 stakeholders representing various industry sectors, provided a platform for industry associations such as the Federation of Agricultural Value Chain Manufacturers and Exporters (FAME) and the Explosives Manufacturers Welfare Association ( EMWA) to highlight critical regulatory areas that need improvement, read the press release.
The recommendations focused on digitalization, transparency through the PESO online portal, and expedited issuance of necessary authorizations.
In response to industry feedback, committees comprising MoPNG, industry associations and regulatory bodies were formed to explore and recommend amendments to improve regulatory frameworks.
The Ministry affirmed its commitment to reducing compliance burdens, promoting ease of doing business and maintaining industry standards through collaborative reforms, the press release said.
The stakeholder consultation marked a critical step towards fostering an enabling 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 in the hazardous substances industries.
According to a press release from the Ministry of Commerce and Industry, these incentives are expected to encourage greater participation and entrepreneurship among women and MSMEs.
The Ministry of Commerce and Industry, under the leadership of Union Minister Piyush Goyal, emphasized the crucial balance between industry compliance and public safety during a Stakeholder Consultation held in New Delhi.
The consultation, convened by the Department for Promotion of Industry and Internal Trade (DPIIT), aimed to improve efficiency within the Petroleum and Explosives Safety Organization (PESO) and encourage dialogue with stakeholders from the industries oil, explosives, fireworks and other related industries.
To address 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 facilitate the operation of petrol pumps in inhabited areas between 30 and 50 metres, ensuring that strict safety measures are followed.
To streamline regulatory processes, Goyal stressed the importance of adopting global best practices. Initiatives include the integration of Third Party Inspection Agencies (TPIA) into more regulatory processes and the development of online permitting modules to replace offline procedures, thereby improving efficiency and transparency.
The consultation, attended by over 150 stakeholders representing various industry sectors, provided a platform for industry associations such as the Federation of Agricultural Value Chain Manufacturers and Exporters (FAME) and the Explosives Manufacturers Welfare Association ( EMWA) to highlight critical regulatory areas that need improvement, read the press release.
The recommendations focused on digitalization, transparency through the PESO online portal, and expedited issuance of necessary authorizations.
In response to industry feedback, committees comprising MoPNG, industry associations and regulatory bodies were formed to explore and recommend amendments to improve regulatory frameworks.
The Ministry affirmed its commitment to reducing compliance burdens, promoting ease of doing business and maintaining industry standards through collaborative reforms, the press release said.
The stakeholder consultation marked a critical step towards fostering an enabling 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 in the hazardous substances industries.
