India, Italy to set up fast-track mechanism to facilitate investment

Last Updated: July 17, 2019

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India, Italy to set up fast-track mechanism to facilitate investment
17 July 2019 Current Affairs: A fast-track system made by the companies and investors of India.
Italy decides to make investment proposals in both countries.
The main aim is to facilitate Italian companies and investors in India.
Indian companies and investors in Italy decided to establish a fast-track system for companies and investors of both countries.
The key objectives of the system in India to pave the way to identify and solve problems faced by Italian companies and investors with their operations in India. 
They serve as a platform for discussing general suggestions from the point of view of Italian companies and investors. 
The Department for Promotion of Industry and Internal Trade (DPIIT), under the ministry, will represent the Indian side in this system. 
The department will facilitate the participation of other relevant ministries and authorities on a case by case basis. 
The Italian Embassy in India in close cooperation with the Italian Trade Agency and relevant Ministries in Italy will represent the Italian side of this system in India.

About Italian Trade Agency
Italian Trade Agency is responsible agency to pursue and monitor individual cases. 
They will be constantly reviewed by Ministry of Economic Development, Italy.
The Indian Embassy in Italy in close cooperation with DPIIT and the relevant Ministries in India will represent the Indian side of this system in Italy.
A continuous updated list of relevant concerns of Indian companies and investors in Italy will be prepared by the Indian Embassy and form the basis of the fast – track system in Italy.
The fast-track system will be reviewed twice a year at the level of Director General for Internationalization and Trade Promotion, Ministry of Economic Development, Italy and Indian Ambassador in Italy. 
The Indian Embassy and Ministry of Economic Development, Italy will meet on the working level at shorter intervals as and when required to review the progress achieved.

Daily Current Affairs 2019



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