In order to support foreign investors, who want to invest in India, the Department for Promotion of Industry and Internal Trade (DPIIT) is planning to set up a single window system. The single-window system may have representatives from both the Centre and state governments. The system will help in getting all relevant approvals and clearances required by foreign investors.
DPIIT Secretary Guruprasad Mohapatra has said that the proposal was being sent to Commerce and Industry Minister Piyush Goyal for approval. Mohapatra said the new mechanism will help in all approvals and clearances that a company requires to set up a plant in a state, district or town.
Besides, the government is taking a series of steps to attract foreign direct investment (FDI). It has liberalised norms in several sectors such as single brand retail trading, coal mining, insurance and contract manufacturing. DPIIT is also looking to further liberalise FDI norms and they are holding internal meetings with different ministries in this regard. FDI in the country has increased by 28% to $16.3 billion during April-June this fiscal.