The standing of India as a reputable seat for international arbitration and litigation is not high. 

The Arbitration Amendment Bill, now cleared by the Cabinet and to be introduced in Parliament soon, is expected to include a vast range of new statutory provisions.

Another criticism that is often aired is that retired judges have monopolised the profession of arbitrators. Since they conduct arbitration proceedings along the lines of court processes, this leads to lengthy delays. 

It is easier to understand the parties and resolve a dispute if the arbitrator is well-versed with the knowledge and expertise in a particular business sector or industry. Therefore, creating specialised arbitral institutions along similar lines as that of the London Maritime Arbitrators Association (LMAA) should also be considered.

The capital of the northwestern state of Rajasthan saw one of India’s steepest surges in foreign direct investment in the year through March 2015. Chief Minister Vasundhara Raje, taking advantage of her absolute dominance over the state and municipal legislatures, has pushed through reforms Modi has struggled with, relaxing contentious labor rules and making it easier for companies to acquire land.

Raje has also relaxed land acquisition rules to set up factories in special economic zones and is now looking to extend the provisions state-wide, after Modi was forced to backtrack from his proposals.

In other areas, she’s a step ahead of Modi: Rajasthan in October unveiled a new start-up policy, vowing to provide funding for new companies, months ahead of Modi’s promised incentives.

Easing procedural requirements, the government has made changes in the annual returns form that is to be submitted by corporates under the Companies Act. 

Under the Companies Act, 2013 -- whose most provisions came into force from April last year -- entities are required to file their annual returns by way of electronic form MGT-7. 

Now, the Ministry, which is implementing the Act, has made changes in the form. 

Among others, the certification requirements in place for company secretaries with respect to annual filings of firms have been relaxed.

Ten years ago, an auto ancillary consignment from Manesar used to take more than 70 days to reach its final destination in USA. Shipping transit time between India and USA is about 30 days. The consignment would spend most of its time — 40 days — within India: 20 days on the road between Manesar and Mumbai, 10 days at various check-posts across states and another 10 days at Mumbai port for customs clearance.

But beyond the well-chronicled pain points of inadequate infrastructure, archaic labour laws, a bigger area of concern for PEs is the lack of clarity on issue relating to taxation and corporate laws.

"Mumbai is the most corrupt when it comes to shooting, we have to pay bribes to BMC officials, local cops, traffic police by the hour, every day," says Mukesh Bhatt, president of the Film and Television Producers Guild of India, "The Central government has been insensitive to our problems, talks of the single window clearance system being implemented in Mumbai have been going on but nothing much has changed in the last 18 months."

In sharp contrast, Delhi has been making steady progress. A month ago, Delhi announced the implementation of the single window clearance policy. Currently the entertainment tax, electricity and fire clearance are under the purview of the single window system.

In line with the Government’s emphasis on simplifying procedures to promote “ease of doing business”, the Shipping Ministry has decided to weed out thirteen archaic rules under Merchant Shipping Act.

The rules to be rescinded include Merchant Shipping (Distressed Seamen) Rules, 1960; Certificate of Service Rules, 1970; Rates Rules 1970 and Radio Rules, 1983.

Besides, Examination of Masters and Mates Rules, 1968; Examination of Engineer Officers in the Merchant Navy Rules, 1989 and Certificate of Competency Rules, 1989 would also be done away with.

The ministry is ready with four bills -- the Child Labour (Prohibition & Regulation) Amendment Bill, the Payment of Bonus (Amendment) Bill, the Small Factories (Regulation of Employment and Conditions of Services) Bill and the Employees' Provident Fund & Miscellaneous Provisions Bill. Besides, it expects to complete the process with regards to the Code on Industrial Relations and the Code on Wages.

"Today only I sent a note to Parliamentary Affairs Minister that I am going to introduce Bonus Amendment Bill in this session. And also Child Labour Prohibition and Regulation Act. These have been approved by the Cabinet," Labour Minister Bandaru Dattatreya told reporters here.

The new FDI norms will make entry and exit for foreign investors easier. A foreign investor will now be permitted to exit and repatriate foreign investment before the completion of project under automatic route, provided that a lock-in-period of three years, calculated with reference to each tranche of foreign investment has been completed. Further, transfer of stake from one non-resident to another non-resident, without repatriation of investment will neither be subject to any lock-in period nor to any government approval.

The construction delays result not only results in huge cost overruns but also impact the investor sentiments. Thus, still there is a dire need to strengthen approval process to streamline the risk return equation because ultimately, ROI will attract foreign investor to invest in the country in long run.