Cabinet approves setting up project development cells in ministries to attract investors

While addressing a press brief on Wednesday, the Union Cabinet announced that they had approved the setting up of an Empowered Group of Secretaries (EGoS) and Project Development Cells (PDCs) across various ministries and departments in a bid to attract investment in the country. Information and Broadcasting Minister Prakash Javadekar stated that as more and more countries looked towards diversifying their investment locations ina post-pandemic world, India could tap into that opportunity. He added that the EGoS and the PDCs could help make India "more investment-friendly".

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"We know the world situation. Now the industries are thinking to diversify their investments in different locations. To ensure that investment increases in India, an Empowered Group of Secretaries (EGoS has been formed and simultaneously in every ministry/department there will be Project Development Cells (PDCs)," he said while briefing the media about the decisions of the Union Cabinet."

Javadekar remarked that this would not only give a flip to the domestic industry but will also bring synergy between ministries and departments and among Centre and state governments when it comes to policy matters. "This decision will give a boost to the economy and open up immense direct and indirect employment opportunities. In projects which will come under their ministries, PDCs will do their hand-holding, provide land on time and help in other matters," said Javadekar. 

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(With ANI Inputs)