Interaction with Invest India and DMICDC
On 28th November 2018, AMCHAM, in association with U.S. Embassy organized an interactive event with Invest India and DMICDC on ‘Infrastructure Development Opportunities in India.’ The event was held at Vigyan Bhawan Annexe, New Delhi. Mr. Samit Ray, Co-Chairman – Infrastructure and Smart Cities Committee, AMCHAM and Director Government Affairs & Public Policy, UTC India, led the discussion. The U.S. Embassy was represented by Ms. Dinah McDougall, Commercial Officer, Mr. Matt Ingeneri, Economic Growth Unit Chief and Mr. James Gallimore, Economic Assistant, Economic Growth Unit.
Presentations were made by Mr. Abhishek Chaudhary, Vice President – Corporate Affairs and Company Secretary, DMICDC and Ms. Chandrima Sinha, Vice President, Invest India. The presentations collectively highlighted the range of opportunities that exist for investing in India’s rapid infrastructural development through various flagship programs most of which are in advanced stages of development. The opportunities for investment and participation are constantly increasing with India being one of the largest economies with a projected GDP of $5 trillion by 2025 and consequently being an attractive investment destination with $1.5 – $2 trillion infra investment demand by 2025 has been highlighted in the presentations.
On the concerns raised by U.S. companies regarding issues related to visibility of status of ongoing projects and of those on the anvil, Invest India introduced AMCHAM members to the recently launched India Investment Grid Portal which has been modelled to be a single window portal to search, identify, connect, track, promote and analyse projects. This portal is expected to facilitate much needed visibility to members and provide immense support in planning investment as well as to participate in them. An in-depth insight into planning and development of five Industrial corridors, six dedicated freight corridors, tens of cities along the routes, forty-four highways being developed as economic corridors and modernization of various ports with connectivity to economic zones were also shared.
Invest India and DMICDC extended an open invitation to AMCHAM member companies to visit smart cities under development as well as standalone logistics and connectivity projects and take stock of the on-ground construction activities. The agencies also welcomed the opinion of U.S. companies regarding pace of implementation and the standards which projects are set to achieve for future development. The event closed with all participants looking forward to materializing collaboration and having more such interactive sessions in the future.