Expert Committee to examine possibility of replacing multiple prior permissions: Sitharaman
Updated: Jul 27, 2015 12:24:01pm
New Delhi, July 27 (KNN) An Expert Committee has been constituted to examine the possibility of replacing multiple prior permissions and pre-existing regulatory mechanism and to prepare a draft legislation, Commerce & Industry Minister Nirmala Sitharaman has said.
In a written reply to Parliament to Friday, the minister said, “The ‘Make in India’ programme aims at promoting India as an important investment destination and a global hub for manufacturing, design and innovation.”
The ‘Make in India’ initiative does not target manufacturing sector alone, but also aims at promoting entrepreneurship in the country, she said.
The initiative is further aimed at creating a conducive environment for investment, modern and efficient infrastructure, opening up new sectors for foreign investment and forging a partnership between government and industry through positive mind set.
She said that 25 sectors have been identified under the ‘Make in India’ initiative including - Auto Components; Textiles; Defence Manufacturing; Electronic System Design and Manufacturing; Food Processing and others.
Sitharaman also informed that after the launch of ‘Make in India’ initiative in September 2014 there is 48 per cent increase in FDI equity inflows during October 2014 to April 2015 over the corresponding period last year.
“A positive response has been received from within the country and globally for the ‘Make in India’ initiative. The Investor Facilitation cell in Invest India has received more than 12000 queries on its portal since the campaign began. Several countries such as Japan, China, France and South Korea have announced their intention to make huge investments in India in various industrial and infrastructure projects,” she said. (KNN Bureau)
In a written reply to Parliament to Friday, the minister said, “The ‘Make in India’ programme aims at promoting India as an important investment destination and a global hub for manufacturing, design and innovation.”
The ‘Make in India’ initiative does not target manufacturing sector alone, but also aims at promoting entrepreneurship in the country, she said.
The initiative is further aimed at creating a conducive environment for investment, modern and efficient infrastructure, opening up new sectors for foreign investment and forging a partnership between government and industry through positive mind set.
She said that 25 sectors have been identified under the ‘Make in India’ initiative including - Auto Components; Textiles; Defence Manufacturing; Electronic System Design and Manufacturing; Food Processing and others.
Sitharaman also informed that after the launch of ‘Make in India’ initiative in September 2014 there is 48 per cent increase in FDI equity inflows during October 2014 to April 2015 over the corresponding period last year.
“A positive response has been received from within the country and globally for the ‘Make in India’ initiative. The Investor Facilitation cell in Invest India has received more than 12000 queries on its portal since the campaign began. Several countries such as Japan, China, France and South Korea have announced their intention to make huge investments in India in various industrial and infrastructure projects,” she said. (KNN Bureau)
Loading...
