Inter-Ministerial Committee to fast-track investment proposals from USA in India
Updated: Dec 03, 2014 12:15:34pm
New Delhi, Dec 3 (KNN) An Inter-Ministerial Committee has been constituted under the Chairmanship of Secretary, Department of Industrial Policy and Promotion to fast-track investment proposals from USA and to address the issues related to implementation.
To begin with, the Committee will facilitate and fast-track investments from US companies in India; and identify bottlenecks faced by the US investors in the implementation of their investment proposals and address them in consultation with all other agencies and state governments concerned, an official release said.
In addition, the Committee will look into areas of concern in sectors of interest to US companies to address them. It will closely monitor and coordinate the process to ensure that investment from USA are put on fast-track in various sectors and opportunities of investment and technology transfer are fully exploited.
Further, it will interact with US companies, ministries/departments of the Government of India and the state governments to facilitate US investment.
The official release also said that the Committee will initiate action to ensure that the US companies investing in India are given handholding services; and at the same time promote an attractive business environment and ease of business for companies to invest in all sectors and manufacturing, in particular.
Most importantly, the Committee will encourage such practices that promote investment in manufacturing with special emphasis on green, advanced and smart technologies by US companies in India to increase competitiveness and making Indian manufacturing a significant player in the global supply chain.
As far as the composition of the Committee is concerned, it will comprise of representatives not below the rank of Joint Secretary from the Ministries of Environment, Forest and Climate Change; Power, Road Transport and Highways, Railways , Civil Aviation, Health and Family Welfare and External Affairs.
The Departments of Industrial Policy and Promotion, Department of Economic Affairs, Electronics and Information Technology, Defence Production, Revenue, Pharmaceuticals, Telecommunication and Commerce will also be represented on the Committee. (KNN/ES)
To begin with, the Committee will facilitate and fast-track investments from US companies in India; and identify bottlenecks faced by the US investors in the implementation of their investment proposals and address them in consultation with all other agencies and state governments concerned, an official release said.
In addition, the Committee will look into areas of concern in sectors of interest to US companies to address them. It will closely monitor and coordinate the process to ensure that investment from USA are put on fast-track in various sectors and opportunities of investment and technology transfer are fully exploited.
Further, it will interact with US companies, ministries/departments of the Government of India and the state governments to facilitate US investment.
The official release also said that the Committee will initiate action to ensure that the US companies investing in India are given handholding services; and at the same time promote an attractive business environment and ease of business for companies to invest in all sectors and manufacturing, in particular.
Most importantly, the Committee will encourage such practices that promote investment in manufacturing with special emphasis on green, advanced and smart technologies by US companies in India to increase competitiveness and making Indian manufacturing a significant player in the global supply chain.
As far as the composition of the Committee is concerned, it will comprise of representatives not below the rank of Joint Secretary from the Ministries of Environment, Forest and Climate Change; Power, Road Transport and Highways, Railways , Civil Aviation, Health and Family Welfare and External Affairs.
The Departments of Industrial Policy and Promotion, Department of Economic Affairs, Electronics and Information Technology, Defence Production, Revenue, Pharmaceuticals, Telecommunication and Commerce will also be represented on the Committee. (KNN/ES)
Loading...
