The bilateral mechanism to start in India
The US and India are working on a bilateral mechanism that will help ease flow of investments from American companies into infrastructure projects in India. The proposal, which has been made by the US Department of Commerce, will establish a platform to assist US investors in infrastructure navigate through regulatory and procedural hurdles in the country, an official in the Department of Industrial Policy and Promotion (DIPP) said.
A Memorandum of Understanding (MoU) on ‘cooperation in infrastructure investments’ is to be signed by both countries during Prime Minister Narendra Modi’s visit to the US next month. We have sent back a communication to the US Department of Commerce indicating our willingness to go ahead with their proposal and have also given some inputs from our side. We will start work on a Cabinet Note for the same as soon as the US reverts, the official said.
It has not yet been stated that how much time will be taken to complete the work. The other details have not yet been specified as what will be required to start this bilateral mechanism.
Source: The Hindu Business Line
bilateral mechanism, Department of Industrial Policy and Promotion, memorandum of understanding, Narendra Modi, US Department of Commerce
