Lok Sabha Question No. 2369 (UNSTARRED), answered on 2022-03-16
Subject: Investment in Industrial Sector
Ministry: COMMERCE AND INDUSTRY
Asked by: Sanjeev Kumar Singari

## GOVERNMENT OF INDIA MINISTRY OF COMMERCE & INDUSTRY DEPARTMENT FOR PROMOTION OF INDUSTRY AND INTERNAL TRADE LOK SABHA

UNSTARRED QUESTION NO. 2369. TO BE ANSWERED ON WEDNESDAY, THE 16 TH      MARCH, 2022.

## INVESTMENT IN INDUSTRIAL SECTOR

## 2369.  DR. SANJEEV KUMAR SINGARI:

## Will the Minister of COMMERCE AND INDUSTRY be pleased to state: वाणिज्य एवं उद्योग मंत्री

- (a) whether  any  steps  are  being  taken  by  the  Government  to  improve  private interest  for  investment  in  the  industrial  sector  and  increase  industrial  credit growth, if so, the details thereof;
- (b) whether the Government is aware that most industrial projects of Rs. 1,000 crore  to  Rs.  5,000  crore  budget  have  taken  between  7  to  11  years  for completion;
- (c) if  so,  whether  the  Government  is  taking  any  steps  to  cut  down  the  time  for completion  of  future  industrial  projects  and  make  them  more  cost  and  time efficient;
- (d) if so, the details thereof and if not, the reasons therefor;
- (e) whether the Government has any data on the number of projects which were stalled, the number of projects which were initiated but delayed and the number of projects which were abandoned; and
- (f) if so, details thereof and if not, the reasons therefor?

## ANSWER

## वाणिज्य एवं उद्योग मंत्रालय में राज्य मंत्री ( श्री सोम प्रकाश ) THE MINISTER OF STATE IN THE MINISTRY OF COMMERCE & INDUSTRY (SHRI SOM PARKASH)

- (a): Recently  Government  has  taken  various  steps  to  boost  domestic investments  in  India.  These  include,  Promoting  FDI  (Foreign  Direct Investment)   and  improve  Ease  of  Doing  Business,   Make  in   India initiative,  National Infrastructure Pipeline, Reduction in Corporate Tax, easing liquidity problems of NBFCs (Non Banking Financial Companies) and  Banks,  trade  policy  measures,  constitution  of   Investment  and Project Development Cells, One District One Product (ODOP), and PLI (Production Linked Incentive) Scheme  for 14 key sectors etc. Government of India is also taken up  various Industrial Corridor Projects

as  part  of  National  Industrial  Corridor  Programme  which  is  aimed  at development of greenfield industrial nodes/regions which can compete with the best manufacturing and investment destinations in the world.

- (b) to (f): The time taken for completion of a project depends on factors like type of project, number of stakeholders, statutory clearances, various other issues related to project etc.

In  order  to  minimize  delays and for timely completion of projects, the Government has institutionalized a monitoring mechanism called Project Monitoring Group (PMG) for various infrastructure and industrial projects above  Rs.  500  Crore.    The  PMG  reviews  such  projects  and  resolve issues related various central ministries as well as State Government. Private Companies can also upload their issues on this  portal  and get their  issues  resolved.    As  per  available  information,  out  of  total  1805 Projects on the PMG Portal, 442 Projects under implementation have reported issues.  Further, 421 projects have been commissioned after resolution of issues.

Department for Promotion of Industry and Internal Trade (DPIIT) also has 32 green field industrial nodes across 11 Industrial Corridors in the Country.  National Industrial Corridor Development Corporation (NICDC) as well as DPIIT monitors these project on regular basis.

The Government has also developed PM GatiShakti National Master Plan  which is supported by a digital platform to enable synchronized planning for providing multi modal infrastructure connectivity to various economic zones, including industrial parks and clusters.

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