Start-up enterprises will now get a unique identity that will help them to seamlessly interact with a host of government departments in another move towards ease of doing business in India, a top official said.
“Department of Industrial Policy and Promotion (DIPP) has begun an exercise for issuance of unique business identification number (UBIN) for budding entrepreneurs to start off their new businesses without any delay,” said Ramesh Abhishek, secretary, DIPP.
Abhishek spoke at a seminar on “Is the Corporate Sector Over-Regulated?” which was organised by PHD Chamber of Commerce and Industry here on Saturday.
The DIPP will issue the UBIN for the new entrepreneurs after the receipt of related applications, the secretary said.
“This number would automatically be moved on to MCA (ministry of corporate affairs) portal after it is issued to the intended beneficiary and subsequently sent on to the CBDT (central board of direct taxes) which would nomenclature it as PAN (permanent account number) for UBIN,” said Abhishek.
The DIPP secretary pointed out that the top bureaucracy has been activated by Prime Minister Narendra Modi to produce results well within targeted time and its no longer business as usual in India.
The move is seen as a major step towards ease of doing business and the start-up India initiative of the government.