India, Italy to Set up Fast-Track Mechanism to Facilitate Investment

A fast-track system would be set up for companies and investors of India and Italy to facilitate investment proposals in both countries. The main aim is to facilitate Italian companies and investors in India and Indian companies and investors in Italy and to decide to establish a fast-track system for companies and investors of both countries.

The key objectives of the system in India will be to pave the way for and identify and solve problems faced by Italian companies and investors with their operations in India. They serve as a platform for discussing general suggestions from the point of view of Italian companies and investors with regard to ease of doing business in India.

The Department for Promotion of Industry and Internal Trade (DPIIT), under the ministry, will represent the Indian side in this system. The department will facilitate the participation of other relevant ministries and authorities on a case by case basis.

The Italian Embassy in India in close cooperation with the Italian Trade Agency and relevant Ministries in Italy will represent the Italian side of this system in India. A continuously updated list of relevant concerns of Italian companies and investors in India will be prepared by the Italian Embassy and form the basis of the fast track system in India.

Ministry of Economic Development, Italy will facilitate the participation of other relevant Ministries and authorities on a case by case basis. Italian Trade Agency will be the responsible agency to pursue and monitor individual cases.

They will be constantly reviewed by the Ministry of Economic Development, Italy. The Indian Embassy in Italy in close cooperation with DPIIT and the relevant Ministries in India will represent the Indian side of this system in Italy. A continuously updated list of relevant concerns of Indian companies and investors in Italy will be prepared by the Indian Embassy and form the basis of the fast track system in Italy.

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