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Govt Sets Up Committee To Fast Track Investment Proposals From The US

Sets Up Committee To Fast Track Investment Proposals From The US

The Indian government has formed an inter-ministerial committee to fast-track implementation of investment proposals received from the US companies. The committee will also look into issues raised by the foreign investors.

The panel will comprise of representatives from 14 different ministries and departments at Joint Secretary Ranks. The list includes: Ministry of External Affairs, Ministry of Environment, Forest and Climate Change, Ministry of Power, Ministry of Road Transport and Highways, Ministry of Railways, Ministry of Civil Aviation, Ministry of Health and Family Welfare, Department of Economic Affairs, Department of Electronics and Information Technology, Department of Defence Production, Department of Revenue, Department of Telecommunication, Department of Commerce and Department of Pharmaceuticals.

Department of Industrial Policy and Promotion’s (DIPP) secretary and joint secretary would take up the role of committee chairman and Convener, respectively.

“The Committee will facilitate and fast-track investment from US companies in India. The Committee will 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. The Committee will look into areas of concern in sectors of interest to US companies to address them,” stated Ministry of Commerce and Industry in a statement.

The ministry further added that panel of experts will also oversee investment proposals from the US and ensure that they are cleared on fast-track basis.

“The Committee will interact with US companies, ministries and government departments and the state governments to facilitate US investment. The Committee will initiate action to ensure that the US companies investing in India are given handholding services. The Committee will initiate action to promote an attractive business environment and ease of business for companies to invest in all sectors and manufacturing, in particular. 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,” said the ministry.


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