Investors Investing $500 Million Or More In India To Have Designated Person To Facilitate All Clearances: Centre

In a bid to attract more investors, the Central government is planning to ease the woes of the investors willing to invest $500 million or more in the country by providing a designated person to each of them to facilitate all clearances from Centre to the local bodies, reports Times Of India.

According to the report, the move comes after complaints of the investors that a plethora of clearances force them to hold their plans to invest in India.

The department for promotion of industry and internal trade (DPIIT) and Invest India have joined hands to put in place a new mechanism to attract more investors to invest in the country.

“Very soon, we will be announcing it. Within Invest India, another format in which we actually do hand-holding from investment query that anybody makes to operationalising it in the field,” DPIIT secretary Guruprasad Mohapatra said at an event on Monday (21 October).

As per the report, the plan has been discussed with the Commerce and Industry Minister Piyush Goyal. However, a formal approval from Goyal is being awaited.