Diplomatist Magazine Oman 2018 - Special Report | Page 31

is embodied in the Consolidated FDI Policy 1 . Recent trends in India’s Foreign Direct Investment (FDI) inflow endorse the country’sstatus as a preferred investment destination amongst global investors. FDI infl ow into India has been steadily increasing, indicating that the Government’s effort to improve ease of doing business and relaxation in FDI norms is yielding results. India is among the top 10 FDI destinations listed by UN Conference on Trade and Development (UNCTAD). According to the Department of Industrial Policy and Promotion (DIPP), India received over $60 billion in FDI during April 2016-March 2017. During April-September 2017, the total FDI investments into India crossed $ 33.75 billion. Top sectors attracting FDI equity flows are telecommunications, trading, computer hardware & software, automobiles, metallurgy, chemicals, power, drugs and pharmaceuticals, and construction. 2 The world business community has realised the lucrative opportunities for doing business with India in various sectors such as machinery, engineering products, auto components, space, aviation, biotechnology, telecommunications, information technology, construction, chemicals, apparels, pharmaceuticals, jewellery, etc. 3 Investment facilitation and Handholding Doing business with India has never been easier. Government agencies pro-actively act as facilitators by providing information and substantial support to potential investors. ‘Invest India’ 4 is the official investment promotion and facilitation agency of the Indian Government. A team of domain and functional experts provide sector-and state-specific inputs and support to investors through the entire investment cycle, from pre-investment decision-making to after-care. It assists with location identifi cation, expediting regulatory approvals, facilitating meetings with relevant government and corporate officials, and also provides aftercare services that include initiating remedial action on problems faced by investors. The Department of Industrial Policy and Promotion (DIPP) plays a pro-active role in resolving problems faced by foreign investors in the implementation of their projects. Opportunity for Omani investors Oman can benefi t tremendously with the business opportunities available in India, given the size and scale of our potentials and the skilled hands that India offers. To allow entry of capital, including from Oman, the Government of India has worked hard on opening India’s economy. Every day, thegovernment is making it easier to invest and do business in India. With a view to facilitate visits by Omani businessmen to India, the Indian Embassy in Muscat has streamlined business visa processes and now issues multiple entry visas with a minimum six month validity. For high-level management personnel from Omani companies, the Embassy is issuing visas valid for one to fi ve years. The Embassy of India also facilitates and enables linkages with the concerned authorities and agencies in India. 5 References: 1 h t t p : / / w w w. m a k e i n i n d i a . com/documents/10281/0/ Consolidated+FDI+Policy+2017.pdf 2 More details of FDI infl ows into India are available at https://www.ibef.org/economy/ foreign-direct-investment.aspx. 3 Details on sector-wise investment opportunities in India are available at www. makeinindia.com/sectors 4 See www.investindia.gov.in ) 5 For any assistance related to investment in India, please contact the Indian Embassy by emailing at [email protected] 2018 • INDIA-OMAN • 31