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63<br />

<strong>International</strong> <strong>Business</strong>- <strong>Dr</strong>. R. <strong>Chandran</strong><br />

infrastructure sector as also high priority industries such as information<br />

technology, through specific schemes such as the Growth Center<br />

Schemes. Transport Subsidy Schemes, New Industrial Policy for the<br />

North-East and other hill States, Electronics Hardware Technology Park<br />

(EHTP), Software Technology Park (STP), Export Promotion Zones<br />

(EPZs), Special Economic Zones (SEZs). Maharashtra, Delhi, Tamil<br />

Nadu, Karnataka, Gujarat, Andhra Pradesh, Madhya Pradesh, West<br />

Bengal, Orissa and Uttar Pradesh accounted for a major portion of FDI<br />

investment approvals during the cumulative period i.e. from August 1991<br />

to March 2004.<br />

FDI Promotion Initiatives<br />

Several steps have been initiated during the year to facilitate increased FDI<br />

inflows, which include, inter alia, the following:<br />

• On the policy front: While our FDI policy is already very liberal, it is<br />

being further progressively liberalized. Equity caps in the banking<br />

sector, the petroleum sector and printing of scientific/technical<br />

magazines/periodicals & journals have recently been raised as a<br />

measure of further liberalisation of policy.<br />

• On the investment promotion front: The Government organized<br />

“Destination Authority has been actively involved to ensure speedy<br />

resolution of investment related problems, which has been widely<br />

acknowledged as an effective problem-solving platform.<br />

• On the competitiveness issue: The Government has received reports<br />

on various studies on current potential and risks involved in various<br />

business activities in India. Different sectors with competitive<br />

advantages have been enlisted to attract foreign investment.<br />

• An exclusive website is hosted by the promotion authorities is<br />

comprehensive and informative with online chat facilities. About<br />

2000 investment related queries were replied to during the year.<br />

• The Committee on Reforming Investment Approval and<br />

Implementation Procedures submitted its reports on simplification of<br />

investment procedures. Steps have already been initiated to implement<br />

these recommendations. The Department is coordinating with other<br />

ministries to implement the same at all levels in the Central<br />

Government.<br />

Only for Private Circulation

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