scorecardresearch
Follow Us:
Saturday, January 22, 2022

‘Clearing way for 863 projects worth $121 bn’

"Maharashtra, Gujarat, Karnataka, Tamil Nadu, Uttar Pradesh are the states witnessing maximum interest" among potential investments being monitored by Project Development Cells (PDCs) across ministries, said Sumita Dawra, Additional Secretary, Department for the Promotion of Industry and Internal Trade (DPIIT) .

By: ENS Economic Bureau | New Delhi |
December 17, 2021 3:05:11 am
Sumita Dawra noted that most of the potential investment being reviewed was set to come from foreign investors, with domestic investors being the source of interest for 345 projects with a proposed investment of $15 billion.

Officials across ministries are working with investors to facilitate 863 projects with an investment of $121 billion across sectors, including chemicals and petrochemicals, steel and heavy industry, senior Commerce Ministry officials said on Wednesday.

“Maharashtra, Gujarat, Karnataka, Tamil Nadu, Uttar Pradesh are the states witnessing maximum interest” among potential investments being monitored by Project Development Cells (PDCs) across ministries, said Sumita Dawra, Additional Secretary, Department for the Promotion of Industry and Internal Trade (DPIIT) . The Cabinet had last year cleared setting up of PDCs across ministries and departments to attract investments.

Dawra noted that most of the potential investment being reviewed was set to come from foreign investors, with domestic investors being the source of interest for 345 projects with a proposed investment of $15 billion. Of the total 863 investment projects, 272 projects worth $41 billion are considered “highly probable” (over 90 per cent probability) , 279 worth $69 billion are considered “moderately probable” (51-90 per cent) and 312 worth $11 billion are considered “long term” (less than 50 per cent probability).

Dawra said there may be some overlap between these potential investments and those set to come up under various PLI schemes.

📣 The Indian Express is now on Telegram. Click here to join our channel (@indianexpress) and stay updated with the latest headlines

For all the latest Business News, download Indian Express App.

  • Newsguard
  • The Indian Express website has been rated GREEN for its credibility and trustworthiness by Newsguard, a global service that rates news sources for their journalistic standards.
  • Newsguard
Advertisement
Advertisement
Advertisement
Advertisement