Govt. sets up Inter-Ministerial Committee to fast-track investment proposals from USA

An Inter-Ministerial Committee has been constituted under the Chairmanship of Secretary, Department of Industrial Policy & Promotion to fast-track investment proposals from USA and to address the issues related to implementation. The Committee will have the following composition:

i)         Secretary, Department of Industrial Policy & Promotion – Chairman

ii)        Joint Secretary (Incharge – USA), Department of Industrial Policy & Promotion –Convener

iii)       Representative from Department of Economic Affairs,

iv)       Representative from Ministry of Environment, Forest & Climate Change,

v)         Representative from Ministry of Power,

vi)       Representative from Ministry of Road Transport & Highways,

vii)      Representative from Ministry of Railways ,

viii)     Representative from Department of Electronics and Information Technology,

ix)       Representative from Department of Defence Production,

x)         Representative from Department of Revenue,

xi)       Representative from Ministry of Civil Aviation,

xii)      Representative from Department of Pharmaceuticals,

xiii)     Representative from Ministry of Health & Family Welfare,

xiv)     Representative from Department of Telecommunication

xv)       Representative from Department of Commerce, and

xvi)     Representative from Ministry of External Affairs.

The Ministries / Departments listed above will nominate its representative not below the rank of Joint Secretary.

The Terms of Reference (ToRs) of the Committee are as under:

(i)    The Committee will facilitate and fast-track investment from US companies in India.

(ii) 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.

(iii)           The Committee will look into areas of concern in sectors of interest to US companies to address them.

(iv)            The Committee will closely monitor and coordinate the process to ensure that investment from USA are put on fast-track in various sectors and opportunities of investment and technology transfer are fully exploited.

(v)  The Committee will interact with US companies, ministries/departments of the Government. of India and the state governments to facilitate US investment.

(vi)             The Committee will initiate action to ensure that the US companies investing in India are given handholding services.

(vii)         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.

(viii)       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.

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