New Delhi, Sep 23 (IANS): India on Wednesday launched the National Single Window System portal for registrations and approvals to investors and business owners.

Union Commerce and Industry Minister Piyush Goyal said that single window portal will become a one stop shop for investors for approvals and clearances.

According to the Commerce and Industry Ministry, the portal hosts approvals across 18 Central departments and nine states, while 14 more Central departments and five states will be added by December.

The system is expected to bring "transparency, accountability, and responsiveness in the ecosystem with all information being made available on a single dashboard", while an applicant bashboard' would be there to apply, track, and respond to queries.

Furthermore, the system will provide services such as 'Know Your Approval (KYA), Common Registration & State registration Form, Document repository and E-Communication'.

Goyal also said with a rapid recovery, "India is back on track to become one of the fastest growing large economies".

He said that NSWS will provide strength to other schemes like Make in India, Startup India, and the PLI scheme.