New Delhi : Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce, and Industry along with Invest India conducted the Investor’s Roundtable on 20th April 2022 with the objective to boost investor confidence and take cognizance of industry-level policy recommendations to enhance investor’s business experience in India.
The meeting focussed on showcasing the opportunities in India and engaging with them to handhold their India entry /expansion plans.
Shri Anurag Jain, Secretary, DPIIT emphasised the need for continuous dialogues between Industry and Government for a long-lasting business relationship. He reiterated that the post-pandemic recovery in India has been fast and there is growing confidence among both domestic and foreign investors in India.
He remarked that India received the highest ever FDI in the last two years. He also mentioned important reforms such as a reduction in Basic Customs Duty from 10 to 7.5%, extension of time limits for the new companies to be eligible for new corporate tax up to March 2024, the PLI schemes in various sectors and the launch of PM Gati Shakti to improve logistics efficiency and reduce logistics cost. Further, the demographic dividend and skilled workforce availability were also highlighted.
India’s MSME sector with over 63 million units makes for a great opportunity for collaboration with investors in the global supply chain realignment. It was emphasized that reforms are a continuous process and assured that the government remains committed to strengthening the investor experience. Shri Anurag Jain requested the companies to Make in India – Make for the World as the country offers a favourable and competitive environment for investments.
The event saw the participation of 21 companies from various key investors representing sectors including the electronics, footwear, and textiles sectors. The senior officials of the State Government of Tamil Nadu, Telangana, Andhra Pradesh, and Karnataka were present and showcased the opportunities and support offered to the industry in the respective states. The Union government was represented by senior officials from CBIC, MEA, DoC, NICDC, APEDA, CBDT, BIS MeitY, and FDI, Leather & International Cooperation (Asia) divisions of DPIIT, to address the suggestions of the investors.