With the aim of giving a boost to the
“The Government is committed to chart out a new path wherein business entities are extended red carpet welcome in a spirit of active cooperation. Invest India will act as the first reference point for guiding foreign investors on all aspects of regulatory and policy issues and to assist them in obtaining regulatory clearances. The Government is closely looking into all regulatory processes with a view to making them simple and reducing the burden of compliance on investors,” said the Ministry of Commerce and Industry in a statement.
The government has created a dedicated cell to answer queries from business entities through a newly-created Web portal. The portal will have an exhaustive set of FAQs that will answer the general queries of an investor, while a back-end support team will be set up to answer specific queries within 72 hours.
“A pro-active approach will be deployed to track visitors for their geographical location, interest and real-time user behaviour. Subsequent visits will be customised for the visitor based on the information collected. Visitors registered on the website or raising queries will be followed up with relevant information and newsletter. Investor facilitation cell will provide assistance to the foreign investors from the time of their arrival in the country to the time of their departure. The initiative will also target top companies across sectors in identified countries,” stated the ministry.
The government, through this initiative, will also encourage domestic companies that have a strong potential in innovation and new technologies, to grow into global champions. The ministry will be focusing on promoting green and advanced manufacturing through these home-grown companies.
Currently, the government has identified 25 sectors that it will promote. These sectors include automobiles, chemicals, IT, pharmaceuticals, textiles, ports, aviation, leather, tourism and hospitality, wellness, railways among others. Prime Minister Narendra Modi will release specific brochures for each sector that will provide details of growth drivers, investment opportunities, sector-specific FDI and other policies and related agencies.
It should be noted that Prime Minister Modi had first spoken about the initiative on Independence Day where he emphasized on the need to project and develop India as the manufacturing hub.