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MD & CEO of Invest India quits?

By IndianMandarins- 17 Mar 2023


New Delhi (17.03.2023): In a sudden development Deepak Bagla resigned as MD & CEO of Invest India, the National Investment Promotion and Facilitation Agency of the Government of India that was setup in 2009 under Section 25 of the Companies Act under the Ministry of Commerce and Industry.
Though Bagla cited personal reason for resignation yet a section of insiders was of the view that his resignation came days after he was questioned by the ministry and was held responsible for the lack of substantial work during his tenure. 
Reportedly, audit was going on for a year that raised various questions pertaining to the performance following which Bagla was questioned. After his return from World Economic Forum meet in Davos earlier in the year, Bagla faced ire of the New Delhi establishment and that is said to have resulted in his resignation. 
It may be underlined that Bagla had a vast experience of working with the World Bank and Citibank spanning for over three decades. He has been a member of several high-level government committees, including Fintech and Innovation and a special invitee to the PM’s Science Technology & Innovation Advisory Council.
Bagla was leading a team of over 400 business professionals working as investors' guide to invest in India. The mammoth team of professionals assists from matters like land acquisition to highlighting infrastructure projects for investment, showcasing innovation and startups and research.

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