Special High Power Committee for FDI Clearances under Cabinet Secretary Notified

·      Indian Champions to be Promoted for Eight Sectors including Mobile and Electronics

[DPIIT ORDER dated 10 June 2020]

No. P 36017/144/2020-Investment Promotion.—The Central Government hereby constitutes an „Empowered Group of Secretaries‟ (EGoS) with following composition to provide support and facilitation to investors for investing in India and to boost growth in key sectors of the economy.

Sl. No.

Designation

Status

1.

Cabinet Secretary

Chairperson

2.

CEO, NitiAayog

Member

3.

Secretary, Department for Promotion of Industry and Internal Trade

Member Convenor

4.

Secretary, Department of Commerce

Member

5.

Secretary, Department of Revenue

Member

6.

Secretary, Department of Economic Affairs

Member

7.

Secretary of Department concerned

To be co-opted

2. The Empowered Group of Secretaries (EGoS) shall have following terms of reference:

(i)    Identify potential investors/organizations across key sectors and geographies with the capacity to invest in India;

(ii)   Make recommendations to the Ministry / Department concerned, to promote investments and take immediate action to implement such recommendations;

(iii)   Recommend sector-specific and/or geography specific incentive packages focusing on both domestic and foreign investors, attracting investment (including FDI) in areas of cutting edge technology, R&D, and high-priority sectors with export potential;

(iv)  Identify Industrial clusters, land-banks, states and areas where these investments could be grounded;

(v)   Facilitate handholding of investors;

(vi)  Promoting joint ventures with Indian companies for manufacturing in India;

(vii)  Identify key focus-sectors to drive development on a significant scale and import substitution;

(viii) Oversee implementation of investment-related policies, reforms, and support mechanisms;

(ix)  Examine and suggest ways to attract more FDI in greenfield projects;

(x)   Promoting Make in India through indigenous procurement;

(xi)  Study best investment practices across States and Countries and recommend for suitable adoption;

(xii)  Supervise opening-up challenge route for States to compete for marquee investors & projects (including public sector projects). Ranking of states on investment attractiveness using parameters such as Ease of Doing Business indicators, land availability and affordability, incentives that are being provided from State budget, attractive land policy, policy predictability, special packages being offered for promotion of backward areas, speed of clearances, etc.;

(xiii) Drive PMP / Incentive schemes for “Creating Indian Global Champions in Sectors of Strength” in areas such as mobile and electronics manufacturing along with goods of other sectors fit for suitable support/ incentives by the respective Ministries to encourage exports. These include: inter alia (i) Network Products (Office machines and automatic data processing machines, Telecommunication and sound recording equipment, Electrical machinery, Road vehicles, Professional and scientific equipment and photographic apparatus) (ii) Medical Devices (iii) Pharmaceutical Drugs (iv) Man-made fibre (v) Auto (vi) Textile machinery (vii) Food processing (viii) other capital goods including electrical machinery, and any other sectors decided by the Empowered Group;

(xiv) Provide boost to existing manufacturing clusters of the country with investments that enable them to create world class common infrastructure including plug-and- play, for facilitating investments;

(xv) Create an investment-friendly and business-conducive ecosystem to drive investment growth in India. Subject matter experts may be invited by the Empowered Group, as per need, to represent different sectors, including Start-ups;

(xvi) Address any other investment related issue that may arise from time to time.

3. The concerned Ministries/Departments shall take immediate action to implement the decisions/recommendations of the Empowered Group. Implementation of investment proposals and other actions emanating from the mechanism will be the responsibility of the relevant Ministry/Department. Any policy of a Ministry/Department likely to impact investment environment may be brought to the Empowered Group for consultation.

4. Department for Promotion of Industry and Internal Trade, Ministry of Commerce & Industry, Government of India shall make provision for secretarial assistance to the EGoS.