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| Prez for single window clearance for foreign investment | | |
New Delhi, Feb 7
President A P J Abdul Kalam today mooted setting up of a single window clearance mechanism for foreign investment in the country saying such a system would further accelerate India's economic growth.
Addressing a gathering of diplomats here, the scientist- president also asked policy makers to take into account the national prosperity index while gauging the country's economic growth as the GDP rate alone cannot provide a clear picture of progress.
Noting that India has demonstrated its upswing in economic development as also in fields like space and nuclear science, he said the contributions of the Indian diaspora, business leaders and talents in arts and sports are becoming increasingly visible in various parts of the world.
"Multinational companies are evincing great interest in starting new joint ventures with Indian companies. However, the pace of progress will further increase if the country adopts a single window clearance system for foreign investment," he said.
Kalam said the absence of such a system was perhaps one of the reasons why the country was not able to get lots of investments. He was delivering the annual lecture of the Association of Indian Diplomats.
"The interaction among the reputed academic institutions from all over the world with Indian institutions is on the increase. Indian companies based on their technological and managerial excellence are able to take over large industries abroad," he added. |
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