India’s foreign offices abroad have intensified efforts to showcase the change in the country’s governance pattern under Prime Minister Narendra Modi. From key decisions to new reforms, investment opportunities to schemes for people — almost everything is up in the cyber domain for people, investors and NRIs to know and explore about India. While the embassies in India’s major trade partners like the United States of America, United Kingdom, Australia , Japan etc are already overstretching themselves, embassies in some other countries are also exploring new partners.
The embassy officials are apprising investors of the initiatives being taken by the new Indian Government to improve transparency and simplify procedures to aid global investment. Changes like raising the FDI limit in Defence sector and speed of decision-making are also projected.
For instance, the Indian embassy in Sweden organised two events s in Stockholm to promote the ‘Make in India’ campaign. Such was the interest for exploring opportunities in India that at one event the original venue of the event had to be changed due to high demand. The alternative venue selected was the headquarters of INDISKA a shop that sells fashions, handicrafts and interior fittings inspired by India. More than 70% of the products of this Swedish retail store chain are made in India to Scandinavian design. Indian Ambassador Banashri Bose Harrison tried to convince audience that making in India would not only mean lower production costs, it would also guarantee a vast market as the jobs generated by expansion of manufacturing raise the purchasing power of millions of young consumers.
Indian Ambassador Ashok K Kantha in Beijing recently at a seminar on India’s auto components tried to underscore the positive business environment in India offering a compelling rationale for Chinese companies to invest in India. At another seminar at Chongqing (China), Indian diplomats tried to familiarise potential investors with opportunities and priorities of the new Indian government especially in infrastructure, automobiles, renewableenergy, pharma and IT sector.
Some of the Indian embassies are also keeping their websites up to date with the policy decisions and reforms taking place in India. For instance, the Indian embassy in Washington runs a full-fledged bulletin on high impact news and key impact decisions by India. This includes news about the wholesale price inflation hitting the zero level in November, to policy decisions like reforms in power sector and Railways offering $14.4 Billion in Foreign Investment Opportunities.
In New Delhi officials in various ministries too are actively engaged in follow-ups and streamlining foreign infrastructure investment. For instance, following Russian President Vladimir Putin’s visit to India, Union Minister of Steel and Mines Narendra Singh Tomar met Oleg Deripaska, chairman of the Supervisory Board of the Russian mining and metals company Basic Element, to explore partnership potential in developing Bauxite related sector in India.
For Japan, Department of Industrial Policy and Promotion (DIPP) has set up a special management team to facilitate and fast track investment proposals. The team known as “Japan Plus”, has representatives from Indian Government and METI (Ministry of Economy, Trade and Industry), Government of Japan, to provide assistance in undertaking studies, identifying bottlenecks and areas of concern in sectors of interest to Japanese companies, and analysing their impact on industrial development production in India.