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'Overseas Facilitation Centre to be op this year'

By Staff
Google Oneindia News

New Delhi, Jan 14: The "Indian Overseas Facilitation Centre" toattract investment from NRIs and PIOs will be operational this year,Overseas Indian Affairs (OIA) Minister Vayalar Ravi said today.

"The proposal is part of our efforts to tap the resources of the IndianDiaspora for the economic rejuvenation of India," he told UNI, whileassuring that the Faciliation Centre would be in place before the next"Pravasi Bharatiya Divas" in January 2008.

The Indian Overseas Facilitation Centre was announced by PrimeMinister Manmohan Singh while inaugurating the Fifth Pravasi BharatiyaDivas here on January 7.

"The Facilitation Centre will liaise with prospective investorsand make the process of investment hassle-free and easier...This isenvisaged as a source of investment advisory services for overseasIndian investors,'' Dr Singh had said.

''We are developing the proposal on the understanding that anIndian entity, independent of the government, though supported by us,and set up in partnership with industry, could be an effectiveinstrument to liaise with members of the Indian diaspora on mattersrelated to investment in India,'' the Prime Minister told the 1,200delegates who attended the meeting.

"It will be a neutral body," Mr Ravi said today, while pointingout that his ministry had, of late, started focusing on promotion ofinvestment by overseas Indians in India and ensuring a structurethrough which this could be channelised smoothly.

An OIA ministry spokesman said there have been enquiries fromoverseas Indians seeking information on a variety of subjects relatedto 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 totackle these queries of the OIs,'' he said, pointing out that it was inthis context that the government had given shape to a proposal to putin place a trusted and neutral body to handle these queries.


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