Home / Economy / News / Covid-19 crisis: Cabinet forms group of secys to attract foreign investment

Covid-19 crisis: Cabinet forms group of secys to attract foreign investment

The two bodies also aim to make Indian products go global, help develop investible pipelines

Premium

Empowered group of secretaries (EGoS) will bring synergies and ensure timely clearances from different departments and ministries, and will attract increased investments into India and provide support to global investors.

Indivjal Dhasmana New Delhi

3 min read Last Updated : Jun 04 2020 | 2:44 AM IST

The Union Cabinet approved the setting up of two mechanisms in ministries and departments to attract companies looking to invest in India to diversify risks across regions after the coronavirus outbreak.

The two types of bodies — an empowered group of secretaries (EGoS) and project development cell (PDC) — will also look at ramping up production across product lines to help serve big markets in the US, EU, China and elsewhere.

The proposal aims to take advantage of global opportunities to make India among the largest players in the value chain, Human Resource Development Minister Prakash Javdekar said after the Cabinet meeting.

“In

Topics : Coronavirus Union Cabinet Indian Economy Foreign Direct Investment FDI Prakash Javadekar Niti Aayog

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in