Minister Piyush Goyal Announces Amendments to Jan Vishwas Bill 3 to Enhance Business Environment

Government Works on Third Edition of Jan Vishwas Bill to Simplify Business Processes

The Indian government is working on the third edition of the Jan Vishwas bill, which aims to simplify business processes and reduce intimidating forms to make doing business easier and more comfortable. This announcement was made by Commerce and Industry Minister Piyush Goyal on Wednesday.

The Jan Vishwas (Amendment of Provisions) Bill, 2026, was passed by Parliament on April 2 to amend 784 provisions in 79 central laws for decriminalizing and rationalizing minor offences. The bill has rationalized over 1,000 offences by amending these provisions. This effort is part of the government's initiative to further improve the business environment and prevent harassment of people. The first edition of the Jan Vishwas law was rolled out in 2023 to promote ease of business by decriminalizing minor offences through amendments in 183 provisions of 42 acts.

The government is now working on a new bill that will focus on simplifying processes and reducing compliance burden. This move is aimed at making laws more contemporary and relevant to India in the 21st century. The ministry emphasized the need to make the entry and exit of businesses easy.

Read also: Treasury Yields Experience Largest Increase in Two Weeks Following Release of Labor Market Data

India's Industrial Growth Plans

The government has also announced plans to establish another 100 industrial parks under the Bhavya Scheme. This move is expected to boost industrial growth and provide more opportunities for businesses.

India's Free Trade Agreements

On international trade, Piyush Goyal announced that India has finalised nine free trade agreements in the last three and a half years. He expressed hope that at least another 6 or 7 more FTAs will be signed in the next two years, collectively covering 50 developed, rich, and prosperous countries.

Read also: US-Iran Tensions Spark Uptick in Oil Prices Amid Global Market Decline

New Free Trade Agreement

In a significant development, Piyush Goyal held discussions with a foreign minister from a country, with whom he was meeting for the first time in his life. The two countries have decided to immediately study their economic situations and prepare terms of reference for a new Free Trade Agreement. A joint economic and trade council (JETCO) meeting is scheduled for July, where the two countries hope to sign the terms of reference for the new FTA.

Discussion with Ecuador

According to a social media post, Piyush Goyal held a meeting with Gabriela Sommerfeld Rosero, Minister of Foreign Affairs and Human Mobility of Ecuador, to discuss ways to boost the two-way commerce and investments between the two countries.