Govt to launch portal for promoting domestic investments by May

The government is developing a portal, Atmanirbhar Niveshak Mitra, for handholding, information dissemination, and facilitation of domestic investors, the commerce and industry ministry said on Friday.

The portal is in testing phase and the final version will be ready for launch by May 1, 2021.

The webpage will be available in regional languages and there will be a mobile app in due course, the ministry said.

"In order to further strengthen efforts to promote domestic investments, the Department for Promotion of Industry and Internal Trade (DPIIT) is in the process of finalising a dedicated digital portal - Atmanirbhar Niveshak Mitra - for handholding, information dissemination, and facilitation of domestic investors," it said.

The special features of the portal will be daily updates on policies and new initiatives by central and state governments; information about approvals, licences, clearances, and different schemes and incentives; information on manufacturing clusters and land availability; and applicable taxation system.

The ministry said the portal will support investors throughout their business journey and help them get all the information, starting from finding an investment opportunity to exploring incentives and taxes applicable to their businesses, sources of funding, raw material availability, training, management requirement, and tender information.

The government said the portal will have a dedicated digital investment promotion and facilitation team at Invest India.

"Currently, several domestic companies have a dedicated relationship manager (RM) and are under active facilitation with indicative investments of Rs 31,725 crore and actual investments of Rs 9,375 crore generating a potential indicative employment of 77,213," the ministry said.

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As far as global investor support is concerned, the ministry said the Invest India team has been working with 1,384 companies, out of which dedicated RMs have been assigned to 601 facilitation cases.

"Total indicated investments from global companies is $153.7 billion, out of which $28.75 billion are actual investments. The companies have indicated 29,91,626 employment (opportunities) and have given actual employment to 3,38,685 as on March 4, 2021," the statement said.

Invest India agency was set up in 2009 as a non-profit venture under DPIIT.