New Delhi: In order to gain the confidence of investors and outline the government's move, Union Commerce Minister Piyush Goyal held an important meeting with the sovereign wealth funds, the foreign pension funds, and others on ease of doing business and investments in the infrastructure sector in India.
The government, which is working on creating a land bank for industry and investment purposes, has assured that there would be a genuine single window and all the concerned state governments and Central ministries are being taken on board for the system.
Six states have already given their consent for the Central government Land Bank scheme. Under this scheme, potential investors would be able to locate and identify the land banks from their distant offices and finalise the location of industries, without frequently visiting the offices of land-owning agencies.
Recently, Union Cabinet also decided to set up an Empowered Group of Secretaries led by the Cabinet Secretary to make decisions on various industries’ schemes and projects.
A nodal officer has been appointed in every Central department and Project Development Cells are being set up which will help in the development of investible projects in coordination between the Central and state governments.
Initially, the government identified 12 industrial sectors to focus upon, and the same has been expanded to 20. These sectors include furniture – standard as well as special furniture, air-conditioners, leather, footwear, agro-chemicals, Ready to eat food, Steel, Aluminium, Copper, Textiles, Electric Vehicles, Auto-components, TV Set-Top Boxes, CCTVs, Sports goods, ethanol manufacture and bio-fuels, and Toys.
The government has emphasized that through Aatmanirbhar Bharat, it is widening its doors for opportunities and Investment with the focus on the quality of Indian products, increasing economies of scale for the production in India.
Commerce Minister Piyush Goyal in a recent meeting with potential investors said that a conducive environment will be created for foreign investment in the health as well as education sectors.
The government has also assured that investors will be given full support in terms of policies, processes, regulations and everything will be transparent, open, and equitable.