22 December , 2021 Fdiindia
PM Gati Shakti Scheme, Single Window Clearance to Drive Foreign Investments in 2022
Investment-friendly initiatives like PM Gati Shakti, GIS-mapped land bank and National Single Window Clearance are expected to boost foreign investments in the upcoming year.
India has received record FDI inflows so far for the current year due to a slew of measures by the government like promoting ease of doing business and liberalization of foreign direct investment (FDI) standards.
Despite the pandemic and the worldwide economic slowdown, FDI inflow into India reached a record $81.97 billion in 2020-2021. For the period of April-July in this fiscal year, FDI inflow rose by 62 percent to $27.37 billion.
“Increasing FDI is a reflection of global trust in India’s growth story. The world wants reliable partners. India is providing all those parameters of growth which the investors would like to see before investment,” said Anurag Jain, Secretary, Department for Promotion of Industry and Internal Trade (DPIIT).
“Further steps like rolling out of PM Gati Shakti National Master Plan (NMP), single window clearance and GIS (Geographic Information System) mapped land bank would help in attracting further investments,” he further added.
“Structural reforms and a series of measures to promote ease of doing business, startup programs and liberalization of FDI policy are bringing in transformational changes in the industrial landscape. Efforts of the Center to support the startup ecosystem have also created a buzz about India in the business and investment sector of the world,” added Jain.
Jain mentioned that 19 central government departments and 10 states are currently part of the national single window clearance system, soft launched for all investor-related issues.
He added that the India Industrial Land Bank is GIS enabled and has recorded over five lakh hectares of land, more than 4,500 industrial parks and displays unoccupied industrial plots that are available to investors.
The Central government has eased FDI regulations for many sectors such as defense manufacturing, contract manufacturing, coal mining and single-brand retail trading.
Total FDI equity inflows into India reached $548 billion between April 2000 and June 2021, establishing the country as a favored foreign investment destination.