BOLD MOVE: India’s Jan Vishwas Bill to Revolutionize Business
— The Indian government is set to introduce the Jan Vishwas Bill 2.0, targeting easier business operations by removing over 100 outdated legal provisions. Union Finance Minister Nirmala Sitharaman announced this during the Union Budget 2025-26 presentation. Key changes include amending the Trade Marks Act of 1999, replacing jail time for minor violations with fines based on business turnover.
These reforms aim to boost business and investment climates by reducing regulatory risks and encouraging entrepreneurship. The Observer Research Foundation noted that over half of India’s 1,536 business laws involve imprisonment clauses, creating legal hurdles for businesses.
Additional budget proposals include forming a High-Level Committee for Regulatory Reforms and introducing an Investment Friendliness Index of States. These measures seek to streamline regulations and attract both domestic and foreign investments, particularly benefiting MSMEs and startups.
The Economic Survey highlights deregulation’s role in boosting economic growth by enhancing capital formation and job opportunities in India. This aligns with global trends as countries look to simplify regulatory frameworks amidst changing trade dynamics influenced by international policies like potential Trump tariffs on China.