Empowered Group of Secretaries (EGoS) and Project Development Cells (PDCs) for attracting investment in India

Context

The Union Cabinet under the leadership of Hon’ble Prime Minister Shri Narendra Modi has given its approval for setting up of an “Empowered Group of Secretaries (EGoS) and Project Development Cells (PDCs) in Ministries/Departments of Government of India for attracting investments in India”.
This new mechanism will reinforce India’s vision of becoming a US$ 5 trillion economy by 2024-25.
DPIIT proposes the strategic implementation of an integrated approach that will eventually bring about synergies between Ministries/Departments and among the Central and State Governments in our investment and related incentive policies.

Background

In the midst of current ongoing COVID-19 pandemic, India is presented with an opportunity to attract FDI inflows into the country especially from large companies which seek to diversify their investments into new geographies and mitigate risks.
Also, ramping up production across product lines will help to serve big markets in the US, EU, China and elsewhere.

Empowered Group of Secretaries (EGoS)

In order to provide support and facilitation to investors for investing in India and to boost growth in key sectors of the economy, an Empowered Group of Secretaries (EGoS) is approved with the following composition and objectives:

Objectives of EGoS:

To bring synergies and ensure timely clearances from different departments and Ministries.
To attract increased investments into India and provide investment support and facilitation to global investors.
To facilitate investments of top investors in a targeted manner and to usher policy stability & consistency in the overall investment environment.
To evaluate investments put forward by the departments on the basis of their (i) project creation (ii) actual investments that come.

Project Development Cell (PDC)

A ‘Project Development Cell’ (PDC) is also approved for the development of investible projects in coordination between the Central Government and State Governments and thereby grow the pipeline of investible projects in India and in turn increase FDI inflows.
Under the guidance of the Secretary, an officer not below the rank of Joint Secretary of each relevant central line Ministry, who will be in-charge of the PDC will be tasked to conceptualize, strategize, implement, and disseminate details with respect to investable projects.

PDC will have the following objectives:

To create projects with all approvals, land available for allocation and with complete Detailed Project Reports for adoption/investment by investors.
To identify issues that need to be resolved in order to attract and finalise the investments and put forth these before the Empowered Group.

Source: PIB

Join Our Telegram

Punchhi Commission Report

E-pharmacies

08 Mar, 23
SHARE

E-pharmacies The Ministry of Health sent "show cause" letters to at least 20 businesses in February 2023 for online drug sales, including Tata-1mg, Flipkart, Apollo, PharmEasy, Amazon, and Reliance Netmeds. What is e-pharmacy? E-pharmacy refers to the purchasing and selling of drugs and other pharmaceutical products through a

Punchhi Commission Report

08 Mar, 23
SHARE

Punchhi Commission Report The Punchhi Commission's report on relations between the federal government and its constituent states will now be reviewed for state responses, according to the Union Ministry of Home Affairs (MHA). Historical Background: A Commission on Centre-State Relations was established by the Indian government,

Indo-German Relations

08 Mar, 23
SHARE

Indo-German Relations Olaf Scholz, the Chancellor of Germany, recently paid a bilateral visit to India. It is Scholz's first trip to India after taking office as German Chancellor in December 2021, ending Angela Merkel's illustrious 16-year reign. About the news: The visit of the German chancellor is significant because i

India Denmark Cooperation

07 Mar, 23
SHARE

India Denmark Cooperation During the "India-Denmark: Partners for Green and Sustainable Development Conference" in New Delhi, the Union Minister for Environment, Forests, and Climate Change said that India and Denmark can work together to show that reaching ambitious climate and sustainable energy targets is possible. Since the Gr

Mob lynching and Cow Vigilantism

07 Mar, 23
SHARE

Mob lynching and Cow Vigilantism The recent lynching and burning of two men in Haryana on the basis of allegations of unlawful cow slaughter, smuggling, or transportation bring attention to the problem of mob lynching. About cow vigilantism: Mob attacks carried out in the guise of "cow protection" primarily target Mus