Ease of Doing Business · A Vindication
Mukundan Says What I've Said For 11 Years
CII's President has put the chamber's weight behind one word — Speed. I welcome it. I also recorded it in 2015.
( A ) The News Hook
India must move beyond the ease of doing business and focus on the speed of doing business to accelerate growth and attract global capital, CII President R. Mukundan said this week. In his words:
“We are not just talking about ease and cost of doing business. We also need speed of doing business. What used to take years, has to happen in months. What takes months today, should happen in days and hours.”— R. Mukundan, President, CII (rmukundan@tatachemicals.com)
“Companies value time. Cases move from one level to another and remain pending for months. Other countries do not face these kind of delays.”— R. Mukundan, President, CII
It is exactly the right frame, and it is rare for an industry leader to name our real weakness so plainly. Shri Mukundan deserves congratulations for airing it on CII's platform. I write only to add that this is a drum I have been beating for a long while — and to lay the dated record beside his welcome words.
( B ) The Prior Thinking — This Is Not New
Eleven years ago, in “From Single Window to Single Day?” (20 September 2015), I argued that the next frontier was not the window but the clock, and asked the one question no Chief Minister has yet answered:
“Can we look forward to one Chief Minister coming forward to announce — We will clear all investment proposals in ONE DAY?”— Hemen Parekh, 20 September 2015
I was not dreaming. I had seen it done. In my L&T days, our VP–Planning, Mohan Pherwani, made a joint-venture presentation to the Singapore Development Authority in the morning, was shown plots in the afternoon — and by evening the hotel receptionist handed him a letter that confirmed the JV, allotted the chosen plot, and enclosed a cheque for Singapore's equity share. One day. One desk. Done.
( C ) The Vindication — Point For Point
Set Shri Mukundan's 2026 statement beside what I had already written, and the alignment is near word-for-word:
| What CII Says Now (2026) | What I Wrote — And When |
|---|---|
| “We also need speed of doing business — not just ease and cost.” | 2015 / 2026 — The frontier is the clock, not the window: “From Single Window to Single Day?” and “A Global Best Practise? Here I Come.” |
| “What used to take years, has to happen in months… months should happen in days and hours.” | 2015 — “We will clear all investment proposals in ONE DAY” — the Singapore SDA cheque-by-evening benchmark. |
| “Cases move from one level to another and remain pending for months.” | 2026 — A single window over a thousand desks is still a thousand desks: the NSWS lists 686+ Central and 7,498 State approvals. |
| “Other countries do not face these kind of delays.” | 2026 — Singapore: top-2 for 15 straight years on certainty and speed. China: a fast channel, not a fast country (Hangzhou half-day permits; Shenzhen's one-hour circle). |
| India must attract global capital by competing on time. | 2026 — Pair every “Choose Your Incentive” with a “Choose Your Clock”: speed beats subsidy. |
( D ) The Ask — The Natural Next Step After The Speech
A speech names the problem. A standard fixes it. If CII converts this call into a push for a binding, national time-to-approval norm, here is the ready-made template:
- Choose Your Clock. Every State industrial policy publishes a binding, audited maximum clearance time alongside its incentives.
- A Single-Day Green Channel. Pre-vetted, clean-compliance projects in notified estates get same-day, single-desk allotment-plus-approval, on the Singapore SDA model.
- Deemed-approved, and named. Beyond the published clock, the application stands approved — and the delay is logged against a named desk. Accountability is the cheapest reform there is.
( E ) Read The Full Argument
• A Global Best Practise? Here I Come — 16 June 2026
• Our PM says “Look East” — I say “Look China” — 18 June 2026
My congratulations again to Shri Mukundan for putting speed squarely on the national table. The window is open. It will not stay open long.