GS 3, Indian Economy, TLP-UPSC Mains Answer Writing
3. What is the National Investment Promotion and Facilitation Agency? What are its objectives and focus areas? (15 Marks)
राष्ट्रीय निवेश संवर्धन और सुविधा एजेंसी क्या है? इसके उद्देश्य और फोकस क्षेत्र क्या हैं?
Approach-
Candidates need to explain about National Investment Promotion and Facilitation Agency and mention about its objectives and focus areas.
Introduction
Investment Promotion Agencies (IPA) are created most often by a government agency. These are generally non-profit organizations functioning similar to a chamber of commerce. Their mission is to attract investment into their particular country /region. The agency does this by providing consultancy and advisory services. Monetary assistance is generally not involved.
The most awarded investment promotion agency in the world, Invest India is the advisor, guide, and facilitator to every investor looking to make a home in India. It is India’s national Investment Promotion & Facilitation Agency that focuses on sector-specific investor targeting and development of new partnerships to enable sustainable investments in India.
Objectives And Focus Areas of National Investment Promotion and Facilitation Agency
- In India, National Investment Promotion and Facilitation Agency partners with substantial investment promotion agencies and multilateral organizations and also actively works with several Indian states to build capacity as well as bring in global best practices in investment targeting, promotion and facilitation areas.
- From assisting with land acquisition to highlighting infrastructure projects for investment, showcasing cutting-edge innovation and start-ups, and world-class research, the various teams at Invest India offer each new investor the panoramic scope of the India opportunity and ways to navigate it.
- From supporting India’s expanding start-up ecosystem to harnessing the power of innovation from India’s laboratories and bringing them to the market or identifying, developing, and deploying technologies on-ground, Invest India’s work covers the entire gamut of India’s transformational business sector.
- Working with every department of the government of India, our expertise in providing advice and assistance is consistently rated best in the world.
- The multi-faceted activities of National Investment Promotion and Facilitation Agency include detailed India entry strategies and research, end-to-end handholding, and investment aftercare.
- It facilitates meetings with relevant government and corporate officials and organizes investment road shows and roundtables.
- It also provides aftercare services that include initiating remedial action on problems faced by investors by involving the Government Departments concerned and regularly partners with similar agencies across the world in an endeavour to enhance bilateral investment and economic engagement.
- It also contributes to the Government of India’s Investment related engagements with Africa.
Conclusion
India’s national Investment Promotion & Facilitation Agency were awarded the Investment Promotion Award, 2020 by the United Nations Conference on Trade and Development for our good practices during the pandemic. India’s rapid development has opened a plethora of exciting opportunities for investors, which can be explored widely. What makes Invest India unique is its close interaction with state governments and private industry organisations. Invest India is intended to become the first reference point for the global investment community – both domestic and foreign.
