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To facilitate domestic & foreign investments, cabinet forms empowered group of secretaries

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The Union Cabinet on Wednesday decided to form an empowered group of secretaries chaired by cabinet secretary to encourage both foreign and domestic investments in India, information and broadcasting minister Prakash Javadekar said. “Industries are thinking to diversify their investments in different localities. To ensure more investments in India, an empowered group of secretaries has been formed,” Javadekar told reporters at a meeting.

He said every ministry will have a project development cell which will handhold projects concerning their respective ministries and facilitate land acquisition. He said this move will make India an investor friendly destination. “It will give fillip to domestic industries and help in better coordination between ministries and departments and improved synergy in centre and state government policy,” he said.

He added that this will also give a boost to direct and indirect employment opportunities. India has been talking of attracting investors who would like to move out of China following the COVID-19 pandemic. Earlier Prime Minister Narendra Modi had while addressing the annual session of Confederation of Indian Industry urged the industry to take advantage of the trust India has developed in the world.