Follow Us:

Govt takes various steps to boost domestic investment

Department for Promotion of Industry and Internal Trade (DPIIT) also has 32 greenfield industrial nodes across 11industrial corridors in the country.

Statesman News Service | New Delhi |

MoS in the Ministry of Commerce and industry’s Parkash, in a written reply in the Lok Sabha today informed that the government has taken various steps to boost domestic investments in India, including promoting Foreign Direct Investment(FDI) and improving Ease of Doing Business, the Make in India initiative, the National Infrastructure Pipeline, Reduction in Corporate Tax, easing liquidity problems of NBFCs (Non-Banking Financial Companies) and banks, trade policy measures, the constitution of Investment and Project Development Cells, One District One Product (ODOP), and the PLI (Production Linked Incentive) Scheme for 14 key sectors, etc.

The government of India has also taken up various industrial corridor projects as part of the National Industrial Corridor Programme which is aimed at the development of greenfield industrial nodes/regions which can compete with the best manufacturing and investment destinations in the world.

The time taken for completion of a project depends on factors like the type of project, the number of stakeholders, statutory clearances, various other issues related to the project, etc.

In order to minimise delays and ensure timely completion of projects, the government has institutionalised a monitoring mechanism called the Project Monitoring Group (PMG) for various infrastructure and industrial projects above Rs 500 crore. The PMG reviews such projects and resolves issues related to various central ministries as well as state governments. Private companies can also upload their issues on this portal and get their issues resolved. As per available information, out of a total of 1805 projects on the PMG portal, 442 projects under implementation have reported issues. Further, 421 projects have been commissioned after the resolution of issues.

Department for Promotion of Industry and Internal Trade (DPIIT) also has 32 greenfield industrial nodes across 11industrial corridors in the country. National Industrial Corridor Development Corporation (NICDC), as well as DPIIT, monitors these projects on regular basis.

The Government has also developed PM GatiShakti National Master Plan which is supported by a digital platform to enable synchronized planning for providing multi-modal infrastructure connectivity to various economic zones, including industrial parks and clusters.