Overseas Facilitation Centre to be operational this year : Minister

New Delhi, Jan 14 (UNI) The "Indian Overseas Facilitation Centre" to attract 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 Indian Diaspora for the economic rejuvenation of India," he told UNI, while assuring 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 Prime Minister Manmohan Singh while inaugurating the Fifth Pravasi Bharatiya Divas here on January 7.

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

''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,'' the Prime Minister told the 1,200 delegates who attended the meeting.

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

An OIA ministry spokesman said there have been 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,'' he 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.

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