New Delhi: 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 address the issues related to implementation.
The Terms of Reference (ToRs) of the Committee are that the Committee will facilitate and fast-track investment from US companies in India.
According to a release from Ministry of Commerce, 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.
Committee will also look into areas of concern in sectors of interest to US companies to address them. The team would also 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 and will interact with US companies, ministries/departments of the Government of India and the state governments to facilitate US investment.
The Committee will also initiate action to ensure that the US companies investing in India are given handholding services.This will give a bosst to the investments in Indian companies.
In order to initiate action to promote an attractive business environment and ease of business for companies to invest in all sectors and manufacturing, 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.