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Union Commerce and Industry Minister Piyush Goyal held a comprehensive review meeting and assessed the performance of union government's Invest India, the country's national investment promotion agency.In a post on social media platform X, Union Minister stated that the focus was on enhancing the organisation's effectiveness and efficiency to attract greater investments. In addition, the Key discussions included strategies for strengthening investor engagement, empowering MSMEs, and accelerating growth in the manufacturing sector.
https://x.com/PiyushGoyal/status/1922298951509639239Invest India is the National Investment Promotion and Facilitation Agency of the Government of India, set up in 2009 as a not-for-profit company under the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry. Supported by a unique partnership between the central and state governments and industry associations, Invest India serves as the first point of contact for global and domestic investors. It provides comprehensive, end-to-end support across all stages of the investment lifecycle--ranging from pre-investment advisory and facilitation to aftercare and expansion support--with a strong emphasis on enabling manufacturing through the Make in India initiative. The agency focuses on promoting investments in high-impact sectors such as Electronics & Semiconductors, Renewable Energy, Electric Vehicles, Capital Goods, Textiles, Food & Agriculture, Pharmaceuticals, Chemicals & Critical Minerals, and Infrastructure. The Union Government has been actively concentrating on innovation in the manufacturing sector, aiming to make India a manufacturing hub. Government recently revised Credit Guarantee Scheme for Startups (CGSS) to boost domestic manufacturing. Under the CGSS, the government has revised the Credit Guarantee Scheme for Startups (CGSS), and doubled the maximum guarantee cover from Rs 10 Crore to Rs 20 Crore and increased guarantee coverage to up to 85 per cent of the loans up to Rs 10 Crore. The Annual Guarantee Fee has also been halved to 1 per cent for the 27 champion sectors, reducing the cost of borrowing. Government is also focusing on Micro, Small and Medium Enterprises (MSME) sector which has emerged as a highly vibrant and dynamic sector within the Indian economy. MSME sector with more than 6.30 crore enterprises provide employment to more than 24.14 crore people, as per the official data. The Central Government in its Union Budget 2025, announced an increase in investment and turnover limits for the classification of MSMES and introduced customised credit cards with a limit of Rs 5 lakh. (ANI)
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