EU, India set up fund for investments
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The European Union (EU) and India announced the establishment of an Investment Facilitation Mechanism (IFM) for EU investments in India.
Objective of this move:
“The mechanism will allow for a close coordination between the European Union and the Government of India with an aim to promote and facilitate EU investment in India,”.
“The IFM has been established with the key objectives of paving the way for identifying and solving problems faced by EU companies and investors with regard to their operations in India.”
IFM will cover new investors as well as those already established in India.
“The IFM is also going to serve as a platform for discussing general suggestions from the point of view of EU companies and investors with regard to ease of doing business in India, which would boost and encourage the EU investors to avail the investment opportunities available in India.
Ease of doing business is a fundamental priority of the Indian Government’s Make in India Campaign and the establishment of IFM for facilitating EU investments in India is another step to achieve this goal.
The IFM builds on the Joint Statement of the 13th EU-India Summit held in Brussels in March 2016, where the EU had welcomed India’s readiness to establish such a mechanism and leaders from both sides had reaffirmed their shared commitment to oppose protectionism and to work in favour of a fair, transparent and rule-based trade and investment environment, according to the statement.
Invest India, the Indian government’s official Investment Promotion and Facilitation Agency, will also be part of the IFM.
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