Project development cells in 29 depts to fast track investment: Govt

view original post

The Commerce and Industry Ministry on Wednesday said Project Cells (PDCs) have been set up in 29 departments to fast track in coordination between the central and state governments.

The cells enhance the pipeline of investible projects in India and in turn increase domestic and foreign direct (FDI) inflows, it said.


It also said that the ministry will be organising Innovation Ecosystem week from January 10 to showcase efforts taken up for promotion of start-ups in the country.

The week will be organised by the Department for Promotion of Industry and Internal Trade (DPIIT) and will be led by the education ministry.

The ministry said that with over 60,000 recognised start-ups, India has transformed into the third largest start-up ecosystem.

“While 55 per cent of the recognised start-ups are from Tier-1 cities and 45 per cent are from Tier-2 and 3 cities respectively,” it said adding the DPIIT recognised start-ups have reported creation of close to two lakh jobs in 2021.

Under the Fund of Funds for Start-ups (FFS), it said, Rs 6,495 crore has been committed to 80 Alternative Investment Funds (AIFs) and Rs 8,085 crore have been invested by supported AIFs in 540 startups.

“For Start-up India Seed Fund Scheme (SISFS), 58 incubators have been selected and Rs 232.75 crore have been approved as grant under the scheme,” it said.

The ministry also said that as part of digitization of old files/records, the department has scanned/digitised as many as 12,387 files containing 19,53,666 pages.

During the Swachhata Campaign, it said, 49,686 files have been reviewed in DPIIT and its sub-organizations. and out of that 49,449 files have been weeded out.

It added that more products are identified under One District One Product (ODOP) initiative, which aims at promoting production of unique products in each district that can be globally marketed.

“Ongoing expansion exercise entailing expansion of list from Phase-1 that consisted of 106 products from 103 districts to current Phase-2 that would consist of 739+ products covering 739 districts,” the ministry said.

About the National Single Window System, it said that complete on-boarding of 32 central departments and 14 states would be done in the next phases.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Wed, December 29 2021. 21:06 IST