The UNCTAD has declared ‘Invest India’ as winner of the 2020 United Nations Investment Promotion Award, according to a release by the Ministry of Commerce and Industry.
“Invest India” is the National Investment Promotion and Facilitation Agency of India and act as the first point of reference for investors in India. It is a non-profit venture set up in 2009 under the Department for Promotion of Industry and Internal Trade, Ministry of Commerce and Industry, Government of India.
Thus, essentially, Invest India is a private company, unlike India Brand Equity Foundation – another investment promotion agency in India set up by the same Ministry – Ministry of Commerce & Industry.
Invest India’s specialists provide multiple forms of support such as market entry strategies, deep dive industry analysis, partner search and location assessment, and policy advocacy with decision makers.
Functions:
- The core mandate of Invest India is investment promotion and facilitation.
- It provides sector-specific and state-specific information to a foreign investor, assists in expediting regulatory approvals, and offers hand-holding services.
- Its mandate also includes assisting Indian investors to make informed choices about investment opportunities overseas.
- Its experts, specializing across different countries, Indian states and sectors, handhold investors through their investment lifecycle ⎯ from pre-investment to after-care.
About UNCTAD:
The United Nations Conference on Trade and Development was established in 1964 as a permanent intergovernmental body. UNCTAD is the part of the United Nations Secretariat dealing with trade, investment, and development issues.
Working at the national, regional, and global level, it’s efforts help countries to:
- Comprehend options to address macro-level development challenges
- Achieve beneficial integration into the international trading system
- Diversify economies to make them less dependent on commodities
- Limit their exposure to financial volatility and debt
- Attract investment and make it more development friendly
- Increase access to digital technologies
- Promote entrepreneurship and innovation
- Help local firms move up value chains
- Speed up the flow of goods across borders
- Protect consumers from abuse
- Curb regulations that stifle competition
- Adapt to climate change and use natural resources more effectively
Together with other UN departments and agencies, it measures progress by the Sustainable Development Goals, as set out in Agenda 2030.