Invest India, a public-private partnership company, which functions out of the Ministry of Commerce building in New Delhi, has been a grand success as reflected in its efforts to bring in foreign direct investment (FDI) commitments - as opposed to "intentions" - worth $83.5 billion. May it be noted that about 90 percent of the FDI commitments have come in the past 15 months.
Industry bodies such as FICCI, CII, and Nasscom hold 51 percent equity in Invest India and the Department of Industrial Policy and Promotion holds the rest. And this equity position provides the company with the flexibility in appointing professionals.
In October, this foreign investment promotion arm of the government crossed a milestone: it received the 100,000th investment-related query that was from a Japanese auto-components company, which is considering investing in India.
"Most of the $83.5bn investments are greenfield, which shows foreign investors' confidence in India's long-term prospects," says Deepak Bagla, CEO & MD of Invest India.
The company has 110 investment professionals, many of whom have traded lucrative jobs for the "satisfaction of working for the country". They handle queries from prospective investors and chase investment opportunities.
Having crossed a milestone, Bagla's plans to "expand capability"; and for this purpose, Invest India will raise its staff strength to 250 over the next year.
Among Invest India's notable 'winnings' is the Indo UK Institute of Health (IUIH), which has committed to spending $5 billion to set up 11 medicities in India. These will be like industrial estates, in which other investors will set up hospitals, medical colleges, and research labs. Andhra Pradesh and Maharashtra have signed MoUs with IUIH to build medicities in the State; construction in Maharashtra is scheduled to begin in December.
French car-maker Peugeot and Danish wind-turbine company Vestas are also among those assisted by Invest India.
Data from the DIPP show that FDI (including reinvested earnings) into India rose from $36 billion in 2013-14 to $45 billion in 2014-15; $55.5 billion the next year; and $60 billion in 2016-17. In the first quarter of this year, India received $14.5 billion of FDI.
Bagla, who has worked for the World Bank, Citibank and private-equity firms, says the idea is to have a "dedicated relationship manager who will be at the disposal of the investor". Another plan is to create an economic intelligence unit within Invest India to crunch data and provide inputs for policy.
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Invest India behind FDI spurt in the country
By IndianMandarins - 2017-10-28 12:29:37
Invest India, a public-private partnership company, which functions out of the Ministry of Commerce building in New Delhi, has been a grand success as reflected in its efforts to bring in foreign direct investment (FDI) commitments - as opposed to "intentions" - worth $83.5 billion. May it be noted that about 90 percent of the FDI commitments have come in the past 15 months.
Industry bodies such as FICCI, CII, and Nasscom hold 51 percent equity in Invest India and the Department of Industrial Policy and Promotion holds the rest. And this equity position provides the company with the flexibility in appointing professionals.
In October, this foreign investment promotion arm of the government crossed a milestone: it received the 100,000th investment-related query that was from a Japanese auto-components company, which is considering investing in India.
"Most of the $83.5bn investments are greenfield, which shows foreign investors' confidence in India's long-term prospects," says Deepak Bagla, CEO & MD of Invest India.
The company has 110 investment professionals, many of whom have traded lucrative jobs for the "satisfaction of working for the country". They handle queries from prospective investors and chase investment opportunities.
Having crossed a milestone, Bagla's plans to "expand capability"; and for this purpose, Invest India will raise its staff strength to 250 over the next year.
Among Invest India's notable 'winnings' is the Indo UK Institute of Health (IUIH), which has committed to spending $5 billion to set up 11 medicities in India. These will be like industrial estates, in which other investors will set up hospitals, medical colleges, and research labs. Andhra Pradesh and Maharashtra have signed MoUs with IUIH to build medicities in the State; construction in Maharashtra is scheduled to begin in December.
French car-maker Peugeot and Danish wind-turbine company Vestas are also among those assisted by Invest India.
Data from the DIPP show that FDI (including reinvested earnings) into India rose from $36 billion in 2013-14 to $45 billion in 2014-15; $55.5 billion the next year; and $60 billion in 2016-17. In the first quarter of this year, India received $14.5 billion of FDI.
Bagla, who has worked for the World Bank, Citibank and private-equity firms, says the idea is to have a "dedicated relationship manager who will be at the disposal of the investor". Another plan is to create an economic intelligence unit within Invest India to crunch data and provide inputs for policy.
