The government plans to float a joint venture company with private sector to set up country specific investment promotion centres in India and abroad. The move aims at involving industry in attracting FDI. As per a proposal prepared by the Department of Industrial Policy and Promotion (DIPP), apex industry chambers would be asked to set up a society / trust or a company in collaboration with the Centre. This would then set up separate offices in the country and abroad where all information pertaining to investment in the country would be provided. Various clearances would be handled by such windows to facilitate faster FDI clearances.
Under the new scheme, 10 country-specific windows focussing on investment promotion from the US, Japan, Taiwan, UK, Germany, Singapore, France, South Korea, Switzerland and Italy would be set up. Industry chambers would also be associated in the functioning of these windows before actually becoming stakeholders at a later stage. The new scheme would merge the existing two schemes–Undertaking Investment Promotion Activities and International Co-operation; and Joint Venture Asia Enterprise.
Under the new scheme, 10 country-specific windows focussing on investment promotion from the US, Japan, Taiwan, UK, Germany, Singapore, France, South Korea, Switzerland and Italy would be set up. Industry chambers would also be associated in the functioning of these windows before actually becoming stakeholders at a later stage. The new scheme would merge the existing two schemes–Undertaking Investment Promotion Activities and International Co-operation; and Joint Venture Asia Enterprise.
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