Invest India has recently been awarded the world’s most innovative Investment Promotion Agency 2021 by OCO Global.
About OCO Global:
OCO Global is a leading authority on foreign investment and offers a range of economic development services, products, and unique company assessment tools.
About Invest India:
- It is a non-profit venture under the Department of Industry and Internal Trade, Ministry of Commerce and Industry, Government of India (GoI).
- It is the national investment promotion and facilitation agency.
- It was founded in 2009 and is headquartered in New Delhi.
- The current MD & CEO of Invest India is Deepak Bagla.
Functions of Invest India:
- Invest India focuses on sector-specific investors which helps in targeting & developing new partnerships in order to enable sustainable investments across India.
- It partners with substantial investment promotion agencies and multilateral organizations.
- It actively works with several Indian states to build capacity as well as bring in global best practices in investment targeting, promotion and facilitation areas.
About Investment promotion agency (IPA):
- An investment promotion agency (IPA) is most often a government agency (or occasionally a non-profit organization functioning similar to a chamber of commerce or business consulting corporation).
- IPA’s mission is to attract investment to a country, state, region, or city.
- They achieve this by using marketing activities by raising awareness regarding the location of attractive destinations for investment.
- It has the following four core functions:
- Investment generation
- Image building of FDI hosting country
- Project management
- Aftercare services
- It plays an important role in attracting investment for developed countries.
- Its function is similar to the chamber of commerce or business consulting corporation.
About Chamber of Commerce:
- A chamber of commerce is an association or network of businesspeople designed to promote and protect the interests of its members.
- Business owners in towns and cities form these local societies to advocate on behalf of the business community.
- Local businesses are members, and they elect a board of directors or executive council to set policy for the chamber.
- The board or council then hires a President, CEO, or Executive Director, plus staffing appropriate to size, to run the organization.
- They serve as spokespeople and representatives of a business community.
- They differ from country to country.