More Stories

Informist, Wednesday, Jul. 8, 2026

 

NEW DELHI - The government should consider using artificial intelligence tools to speed up approvals under its single-window clearance system for investment approval, Larsen and Toubro's Anil Parab said Wednesday. For companies looking to invest in India, speed of doing business remains a continued problem, the whole-time director and senior executive vice-president said.

 

Senior company officials still spend too much time and energy in getting approvals, which increases the friction for private investment, he said at an investment seminar organised by the Federation of Indian Chambers of Commerce and Industry. Parab proposed that the government automatically approve applications not rejected within 30 days of applying.

 

The government should also consider asking for full documentation only after the approval, rather than before, the executive said. One of the other pain points in attracting both domestic and foreign investment is that contract enforcement takes decades through the court system.

 

Speaking at the event, Indian Banks' Association Chief Executive Atul Kumar said banks were in a much better position to fund investment in the next phase of India's growth trajectory as bad loans had reduced sharply over the past decade. Reserve Bank of India data showed scheduled commercial banks' gross non-performing asset ratio was 1.8% at the end of March, the best ever.

 

The former head of Punjab National Bank said the approach to lending had also evolved, with project viability and cashflow now the primary drivers for lending decisions rather than the credit rating of the company involved. At the same time, he highlighted that corporates must tap other pools of capital in India, similar to developed economies, and the share of bank lending in total credit in the economy should be replaced by other avenues such as private credit.

 

Both Parab and JSW Steel's Pankaj Kumar Satija highlighted ongoing investments in renewable energy such as green hydrogen, with innovation and technological development happening. Satija, the executive vice president of corporate affairs at the steelmaker, said investment was on an upswing, especially in new technologies to help reduce the steelmaker's carbon footprint.

 

However, he highlighted the investment was necessary and raised costs as companies adapt to tighter sustainability standards both in India and abroad. A move towards decarbonisation has gained steam within the industry, with more and more nations introducing anti-carbon emission norms like the European Union's Carbon Border Adjustment Mechanism.

 

On Wednesday, shares of JSW Steel ended 2.2% lower at INR 1,219.50 on the National Stock Exchange. L&T's stock ended 2.5% lower at INR 3,892.10 on the exchange.  End

 

Reported by Aaryan Khanna

Edited by Avishek Dutta

 

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

 

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.

 

Informist Media Tel +91 (11) 4220-1000

Send comments to feedback@informistmedia.com

 

© Informist Media Pvt. Ltd. 2026. All rights reserved.