The Ministry of Corporate Affairs plans to radically simplify India's company incorporation procedures. The Ministry expects that the new procedures will allow a company to be incorporated in just 24 hours.
A press release from the Ministry suggests that the new procedures are expected to be implemented next month (i.e., from August 11), and these procedures will permit applicants to file incorporation documents online, after the documents have been certified by practising professionals. A digital certificate of incorporation will be issued immediately thereafter. There is likely to be an ex post verification of the documents submitted, and applicants providing false information could face penal consequences.
These proposals are welcome and should make the process of setting up new businesses in India a lot easier.