New Delhi, Sept. 4 -- India is firming up an overhaul of its corporate compliance rulebook that will make it quicker to register a company-possibly within hours-and easier to shut one that's not working out, while cutting the paperwork in between, according to two people and an official document reviewed by Mint. The corporate affairs ministry is drawing up a reform blueprint that will also include use of artificial intelligence and greater automation to speed up scrutiny and filings, the officials said.

The aim is to bring more ease to doing business in India to help the country achieve its developed economy goal by 2047.

Under the planned reforms playbook, the corporate affairs ministry is also examining the feasibility of tying some ...