Monitoring Cell To Focus On Eous

The FDI project monitoring cell of the department of industrial policy and promotion in the industry ministry, set up recently, in its first meeting will concentrate on all 100 per cent export oriented units (EOU) cases apart from individual followup of all foreign collaboration cases, both financial and technical.

Apart from monitoring FDI cases of over Rs 100 crore in certain areas like electronics, paper, cement and advertising and consultancy projects being the administrative ministry, at the macro-level the industry ministry would also monitor the project development of FDI cases in association with other ministry. The first meeting of the monitoring cell is slated to be held on July 2 .

The monitoring cell in the industry ministry has been set up recently keeping in line with what Prime Minister A.B. Vajpayee had said at a CII-organised function so as to keep track of the status of various FDI approvals given by the government.

The monitoring cell, according to government sources, is also aimed at to have a correct estimate of industries being being implemented as also to set up a feedback for problems faced approval holders in the implementation of projects.

The functions of the project monitoring cell of the secretariate of industrial approval (SIA) would be to:

Develop a management information system for monitoring of projects.

Coordinate with administrative ministries/desks concerned of industry ministry and state governments for tracking and monitoring approved projects, compile and analyse such information.

Contact wherever necessary the entrepreneurs directly and update the information about projects and

Provide escort services for select projects and assist investors in solving problems relating to implementation of approved projects through contact, liaison and coordination with central and state government agencies concerned.

Track industrial memorandum and letters of intent.