Task force constituted to attract investments

‘India stands a bright chance as many countries are looking away from China’

The government has constituted a task force for attracting investments with Minister for Industries and Commerce Mekapati Goutham Reddy as its chairman, according to a G.O. issued by Special Chief Secretary R. Karikal Valaven.

It was stated in the G.O. (RT No. 107) that economic issues and supply chain constraints caused by COVID-19 promoted many countries to do a rethink on their investments in China.

Reports indicate that the US, South Korea, Japan, Taiwan, Vietnam, and Singapore are likely to diversify their supply chains from China, and India could emerge as an alternative investment destination.

The task force is intended to take advantage of this situation and act as a forum for attracting investments on a long-term basis.

The task force has Mr. Valaven as vice-chairman; and Special CS (water resources) Adityanath Das, Principal Secretary (finance) S.S. Rawat, Secretaries Gopal Krishna Dwivedi (mines), N. Srikant (energy) and Kona Sasidhar (IT), and Director of Industries and Economic Development Board CEO J.V.N. Subramanyam as members.

The task force is supposed to meet every month to review the progress of investment proposals, examine incentive packages requested by the investors, and get them processed in accordance with the government policies, fast-track clearances for power and water, and resolve any issues thereof.

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Printable version | May 25, 2020 2:46:04 PM |

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