Embassy of India Riyadh September 21, 2014 Press Release The Prime Minister of India Mr. Narendra Modi will launch the Make-In-India campaign at a grand ceremony in New Delhi on September 25, 2014 at 1000 hours (Indian Standard Time) which will be telecast live. The link to access the live webcast of the launch will soon be provided on the Embassy’s website. The “Make in India” Campaign aims to highlight the various initiatives taken by the Government for improving business environment; incentivizing manufacturing; removing bottlenecks through de-licensing & deregulation; simplifying procedures and opening of foreign direct investments in key sectors. 2. Development of a robust manufacturing sector is the priority of the Government of India and the Government is committed to remove all bottlenecks to develop India as a manufacturing hub. The FDI policy in Defence sector has already been liberalised and FDI cap has been raised from 26% to 49%; 100% FDI under automatic route has been permitted in construction, operation and maintenance in specified Rail Infrastructure projects and the norms for FDI in the Construction Development sector are being eased. 3. The Department of Industrial Policy and Promotion (DIPP), Government of India is implementing the eBiz project which will create an investor centric hub-and-spoke based online single window for clearances and filing compliances. It will result in radical improvements in doing business by reducing time, efforts and costs in obtaining clearances and ensuring compliances. 4. To commemorate the launching of this Campaign, an interactive session is being organised under the aegis of Saudi India Business Network (SIBN) at the Embassy premises on 25th September, 2014 at 1100 am (Kingdom Standard Time). The event will feature a brief film on investment in India, re-telecast of the Campaign launch by the Prime Minister and an interactive session with the Ambassador. It will be a unique opportunity for investors to have firsthand information about the major policy changes aimed at simplifying investment procedures and the norms for doing business in India. 5. Investors, businessmen, industrialists, non-resident Indians, young entrepreneurs, member of industrial associations and representatives of Indian, Saudi and foreign companies are cordially invited to the SIBN event at the Indian Embassy on 25th September, 2014 at 1100 am. The participants may please send their details on [email protected], [email protected], [email protected]. **********
Posted on: Sun, 21 Sep 2014 14:22:26 +0000
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