High level empowered group of secretaries to chalk out investment plan, promote Make in India
Promotion of Make in India will be one of the key focus areas of the group.A high level Empowered Group of Secretaries (EGoS), to be chaired by the cabinet secretary, will draw up a plan to drive PMP and incentive schemes to attract investment in at least eight sectors such as mobile and electronics manufacturing, medical devices and pharmaceutical drugs. The group will also supervise opening-up challenge route for states to compete for marquee investors and projects, the government said in a notification.
The group will “provide support and facilitation to investors for investing in India and to boost growth in key sectors of the economy” and “create an investment-friendly and business-conducive ecosystem to drive investment growth in India”.
The government has set up the group whose members are NITI Aayog CEO and Secretaries of Departments for Promotion of Industry and Internal Trade, Commerce, Economic Affairs and Revenue, after a Cabinet decision last week.
The challenge route for states to compete for investors and projects including public sector projects entails ranking of states on investment attractiveness using parameters such as Ease of Doing Business indicators, land availability and affordability, incentives that are being provided from state budget, attractive land policy, policy predictability, special packages being offered for promotion of backward areas and speed of clearances, among others.
The group will identify key focus-sectors to drive development on a significant scale and import substitution, examine and suggest ways to attract more foreign direct investment (FDI) in greenfield projects, and promote Make in India through indigenous procurement.
It has also been tasked to identify potential investors/organizations across key sectors and geographies with the capacity to invest in India, promoting joint ventures with Indian companies for manufacturing in India, identify industrial clusters, land-banks, states and areas where these investments could be grounded besides facilitating the handholding of investors.
Source: indiatimes.com
