Context:

• The Cabinet has given its approval for setting up of an Empowered Group of Secretaries (EGoS) and Project Development Cells (PDCs) in Ministries/Departments of the Central Government for attracting investments in India.

* This will put in place an investment friendly ecosystem that strongly supports the domestic investor as well as FDI and to give boost to the economy Empowered Group of Secretaries (EGoS)

• It has the Cabinet Secretary as the Chairperson and Secretary, Department for Promotion of Industry, and Internal Trade as the Member Convenor. Secretaries of the Department of Commerce, Department of Revenue, and Department of Economic Affairs, and the CEO, Niti Aayog are the Members of this committee.

• The Secretary of Department concerned where investment is coming is to be co-opted in the committee. EGoS

Objectives:

• To bring synergies and ensure timely clearances from different departments and Ministries.

• To attract increased investments into India and provide investment support and facilitation to global investors.

• To facilitate investments of top investors in a targeted manner and to usher policy stability & consistency in the overall investment environment.

• To evaluate investments put forward by the departments on the basis of their * project creation

* actual investments that come.

• Further, these departments would be given targets for completion of various stages by the Empowered Group. Project Development Cells (PDCs)

• A PDC is approved for the development of investible projects in coordination between the Central Government and State Governments and thereby grow the pipeline of investible projects in India and in turn increase FDI inflows

• Under the guidance of the Secretary, an officer not below the rank of Joint Secretary of each relevant central line Ministry, who will be in-charge of the PDC will be tasked to conceptualise, strategise, implement, and disseminate details with respect to investable projects PDC Objectives:

• To create projects with all approvals, land available for allocation and with the complete Detailed Project Reports for adoption/investment by investors.

• To identify issues that need to be resolved in order to attract and finalise the investments and put forth these before the Empowered Group. Significance

• This will make India a more investor-friendly destination and to handhold and further smoothen investment inflows into the country.

• It will give a fillip to our domestic industries

• It will give boost to the economy and open up immense direct and indirect employment potential in various sectors