Inter-ministerial panel to facilitate investment from US firms

The government has constituted an inter-ministerial panel to facilitate and fast-track investment from the US companies in the country.
The committee, headed by DIPP Secretary Amitabh Kant, 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.
The panel will look into areas of concern in sectors of interest to US companies to address them, an official statement said.
It will initiate action to promote an attractive business environment and ease of business for firms to invest in all sectors and manufacturing, in particular.

"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," the statement said.
"The Committee will interact with US companies, ministries/departments of the Government of India and the state governments to facilitate US investment," it added.

The Terms of Reference of the committee also include initiating action to ensure that the US companies investing in India are given handholding services.
Moreover, 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.

Besides the Department of Industrial Policy & Promotion (DIPP) Secretary, the panel will draw representatives from various ministries such as finance, environment, forest & climate change power and others.