PM moots investment facilitation centre for OIs

New Delhi, Jan 7 (UNI) In a move to tap the resources of the Indian Diaspora for the economic rejuvenation of India, Prime Minister Manmohan Singh today announced that an ''Indian Overseas Facilitation Centre,'' a neutral body, would be set up to liaise with prospective investors and make the process of investment hassle-free and easier.

''The proposal is being examined. This is envisaged as a source of investment advisory services for overseas Indian investors,'' he said, while inaugurating the 5th Pravasi Bharatiya Divas, being attended by 1,200 delegates from 50 countries around the world.

''We are developing the proposal on the understanding that an Indian entity, independent of the government, though supported by us, and set up in partnership with industry, could be an effective instrument to liaise with members of the Indian diaspora on matters related to investment in India,'' he said.

The Overseas Indian Affairs (OIA) Ministry has, of late, started focusing on promotion of investment by overseas Indians in India and ensuring a structure through which this could be channelised smoothly.

Commenting on the Prime Minister's announcement, OIA ministry sources told UNI here today that the ministry had been receiving enquiries from overseas Indians seeking information on a variety of subjects related to various schemes in the education and cultural areas, OCI scheme, social and miscellaneous issues.

''It is not very easy to provide a set up within the government to tackle these queries of the OIs,'' sources said, pointing out that it was in this context that the government had given shape to a proposal to put in place a trusted and neutral body to handle these queries.

The proposal is to set up the Overseas Indian Investment Facilitation unit with the collaboration of one of the premier chambers of commerce like the CII, FICCI or ASSOCHAM.

''It will be a dedicated and empowered one window channel (one stop shop) for their investment in sectors like tourism, culture, science and technology, IT, healthcare, education and philanthropy,'' the sources said.

UNI