Jan Vishwas Bill 3 Under Development, Piyush Goyal Announces Focus on Simplified Rules and Reduced Compliance Burden
The Indian government is advancing its efforts to enhance the business environment with the introduction of a third edition of the Jan Vishwas Bill. This new iteration aims to simplify business operations by reducing compliance burdens and streamlining procedures, as announced by Commerce and Industry Minister Piyush Goyal. Speaking at a World Bank Group workshop, Goyal emphasized the importance of making business regulations less daunting and more accessible, reflecting the needs of a modern economy.
Jan Vishwas Bill: A Step Towards Simplification
The Jan Vishwas Bill, which is currently in its third edition, seeks to build on previous reforms aimed at decriminalizing minor offences. Minister Goyal highlighted that the new bill will not only continue this trend but will also focus on simplifying processes and reducing the intimidating nature of compliance forms. The goal is to create a more conducive environment for businesses to thrive. Goyal stated, “We are now working on a Jan Vishwas Bill number 3, where possibly, we’ll go beyond decriminalising laws, (and) look at simplification of processes and procedures.” This initiative is part of a broader strategy to modernize laws and make them more relevant for the 21st century.
The previous versions of the Jan Vishwas Bill have already made significant strides. The Jan Vishwas (Amendment of Provisions) Bill, passed in April 2026, amended 784 provisions across 79 central laws, addressing over 1,000 offences. The first Jan Vishwas law, introduced in 2023, aimed to promote ease of doing business by decriminalizing minor offences through amendments in 183 provisions of 42 Acts. These legislative changes reflect the government’s commitment to fostering a business-friendly atmosphere.
Enhancing Business Entry and Exit
In addition to the Jan Vishwas Bill, Minister Goyal underscored the necessity of facilitating both the entry and exit of businesses in India. He announced plans for the establishment of 100 new industrial parks under the Bhavya Scheme, which aims to further enhance the industrial landscape of the country. This initiative is expected to provide businesses with the infrastructure they need to operate efficiently and effectively.
The minister’s remarks indicate a comprehensive approach to improving the business ecosystem in India. By making it easier for companies to enter and exit the market, the government aims to encourage entrepreneurship and innovation. This approach is particularly important in a rapidly changing global economy, where adaptability is key to success.
Free Trade Agreements and Global Engagement
On the international trade front, Minister Goyal revealed that India has finalized nine free trade agreements (FTAs) over the past three and a half years. He expressed optimism about the future, stating that he expects at least six or seven more FTAs to be established in the next two years. These agreements are intended to enhance trade relations with developed nations, collectively covering 50 prosperous countries.
During a recent meeting, Goyal engaged with a foreign minister from a country he had not previously met, discussing the potential for a new FTA. He noted the importance of studying the economic situations of both nations and preparing for a joint economic and trade council (JETCO) meeting in July, where they hope to formalize terms for the new agreement. This proactive approach to international trade underscores India’s commitment to expanding its global economic footprint.
Strengthening Bilateral Trade Relations
In a related development, Minister Goyal met with Gabriela Sommerfeld Rosero, Ecuador’s Minister of Foreign Affairs and Human Mobility. The two officials discussed strategies to bolster bilateral trade and investment ties between India and Ecuador. This meeting highlights India’s efforts to strengthen its relationships with countries in Latin America, further diversifying its trade partnerships.
The discussions with Ecuador are part of a broader strategy to enhance India’s trade relations globally. By engaging with various nations, India aims to create a more interconnected and robust economic framework that benefits all parties involved. The government’s focus on trade agreements and international cooperation reflects its commitment to fostering a dynamic and competitive business environment.
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