The Committee for Development of International Trade, Services & WTO at The Institute of Chartered Accountants of India (ICAI) has announced that it is seeking inputs for measuring the Cost of Regulation (CoR) as requested by the Department For Promotion of Industry and Internal Trade (DPIIT). The CoR is a crucial factor in assessing the overall cost for businesses and plays a significant role in evaluating the ease of doing business. The DPIIT has developed a draft framework based on consultations with States/UTs and industry, and now industry representatives are invited to participate in stakeholder consultations and provide their input and suggestions on the CoR framework. The ICAI, as a business solution provider, has been approached by DPIIT for insights into the cost of regulation by corporates. A questionnaire has been prepared and industry participants are encouraged to fill it out by the specified deadline.
Committee for Development of International Trade, Services & WTO
The Institute of Chartered Accountants of India
22nd May, 2023
ANNOUNCEMENT
SEEKING INPUTS FOR MEASURING COST OF REGULATION – AS REQUESTED BY DPIIT
This is with reference to the communication received from Department For Promotion of Industry and Internal Trade (DPIIT) which is the Nodal Department for the Ease of Doing Business initiative of Government of India. Cost of Regulation (CoR) is a critical component in the overall cost for the businesses and an important parameter in mapping ease of doing business.
In this regard, a draft framework has been developed by DPIIT considering the ground challenges mentioned during a series of consultations with States/UTs and industry. Stakeholder consultation is now proposed with industry representatives to discuss Cost of Regulations (CoR) Framework and receive their input and suggestions on the same. Detailed presentation giving the framework can be viewed by clicking here
Being Chartered Accountant the total business solution provider, DPIIT has approached ICAI for getting insights of cost of Regulation by corporates and hence a questionnaire has been developed for each service in each State. Multiple entries are accepted. You are requested to kindly fill the questionnaire in the form of google form by clicking here latest by 28th May, 2023.
Chairman & Vice-Chairman
Committee for Development of International Trade, Services & WTO ICAI, New Delhi
