EU and India established an Investment Facilitation Mechanism

EU and India established an Investment Facilitation Mechanism

Question: Who is the president of the parliament of European Union?
(a) Antonio Tajani
(b) Donald Tusk
(c) Jean-Claude Juncker
(d) Antonio Guterres
Ans: (a)
Related Fact :

  • On July 14, 2017, European Union (EU) and India announced the establishment of an Investment Facilitation Mechanism (IFM) for EU Investments in India.
  •  This agreement is the result of the Joint Statement of the 13th EU-India Summit held in Brussels in March 2016, where the EU had welcomed India’s readiness to establish such a mechanism and leaders from both sides had reaffirmed their shared commitment to oppose protectionism and to work in favour of a fair, transparent and rule-based trade and investment environment.
  •  As part of the IFM, the EU Delegation to India and the Department of Industrial Policy & Promotion (DIPP), Ministry of Commerce & Industry, agreed to hold regular high level meetings to assess and facilitate “ease of doing business” for EU investors in India.
  • Invest India, the official Investment Promotion and Facilitation Agency of the Government of India, will also be part of the Mechanism. It will create a single-window entry point for EU companies that need assistance for their investments at the central or state level.
  • The mechanism will allow for a close coordination between the European Union and the Government of India with an aim to promote and facilitate EU investment in India.
  • EU is one of the biggest provider of foreign investment in India, with a stock exceeding US$ 81.52 billion (more than 4.4 lakh crores INR) as of March 2017.
  • There are currently more than 6,000 EU companies present in India, providing direct and indirect employment to over 6 million people

Reference:
http://pib.nic.in/newsite/PrintRelease.aspx?relid=167418

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