The Ratan Tata-led Investment Commission, appointed by the government to suggest ways to attract more investments, has completed its term - a period that incidentally saw total FDI inflows cross the USD 100 billion mark.
Set up by the Finance Ministry in 2004 for three years to enhance and facilitate investments, the Commission got an extension of two years in December 2007. The extended tenure came to an end on December 31, 2009.
The initial members of the Commission included, besides Tata, Deepak Parekh of the HDFC Group and business leader Ashok Ganguly. However, by the time the panel completed its term only Tata and Parekh reminded, as Ganguly was elected to the Rajya Sabha recently.
In a communication to the government, the Commission has expressed its gratitude for the “guidance and support” extended during its tenure and has said its term has been a “very fruitful” one.
While there has been speculation that the panel asked the government to disband it, sources close to the panel said, “The Investment Commission only thanked the government at the end of its tenure and did not seek any continuation or dis-continuation.”
The panel members could not be contacted for their comments.