Fdi Norms To Be Eased

The fast track mechanism for foreign investment projects will be simplified further and bottlenecks coming in the way of implementation would be removed, said Union minister for commerce and industry, Murasoli Maran.

Speaking to representatives of leading British companies who have a presence in India, the minister said that any bottlenecks would be removed on a priority basis through consultations with other ministries and the Foreign Investment Implementation Authority (FIIA).

The representatives, besides giving their suggestions for further simplification of policies governing foreign investments, power generation, telecommunications, labour laws etc., also apprised the minister of the various difficulties and problems they had to face at implementation level.

 

The minister also proposed to institutionalise the process of interaction with foreign investors by holding such feedback sessions at least once every year. Maran is slated to visit UK and France in the coming week to participate in a series of investment promotion events called "Destination India" aimed at wooing FDI from the two countries. "The interactive session would ensure that my visit to UK is more focussed and meaningful," he said.

Representatives of 15 British companies including British Gas International, National Power International, Power Gen. Plc, National Grid Company Plc, etc.attended the meeting.