By Rituparna Bhuyan | Anshu Sharma May 22, 2020 7:12:05 PM IST (Published)
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The Department Of Promotion of Industry and Internal Trade (DPIIT) is working three reform proposals that seek to change the way investments are incentivised and promoted in the country. The proposed policy moves come in the backdrop of the announcement by Prime Minister Narendra Modi on making policies that seek to promote a “Self Reliant” India.
Empowered Group of Secretaries
But the focus of the panel will not be limited to these sectors only. The Group will also recommend sector and geography-specific policies to boost FDI and domestic investments. Other responsibilities include handholding investments, identifying companies which can invest in India, zeroing in on appropriate industrial parks or land banks where factories can be set up by identified investors and promote JVs with Indian companies.
Project Development Cell
While this panel will seek to facilitate and promote investments, DPIIT has proposed to also set up Project Development Cells (PDCs) in central ministries like Heavy Industries, Textiles, Chemicals, Commerce, Food Processing, Petroleum, Roads, Civil Aviation, Shipping, Renewable Energy, Health and Agriculture.
These cells will be headed by a Joint Secretary Level officer identified ministries and will be tasked with conceptualising, strategising and implementing Investible projects from their respective sectors where FDI can be attracted. For this, the cell will be used to coordinate between the central ministry and the state governments. While creating the proposals, the cell will also ensure that all government permissions are available along with land parcels for such projects, which shall be pitched to foreign investors.
Industrial Cluster Upgradation Scheme
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