Page 25 - Microsoft PowerPoint - FAQ's E-booklet format combined_20_11_2020.pptx

Is it mandatory to bring out a legislation for establishment of Investors’ Facilitation
Center/ Investment Promotion Agency meant for investment promotion, industrial
facilitation, regulatory reforms and obtaining user feedback?

There could be two possible scenarios for this;

Scenario I: The state already has an Investors’ Facilitation Center/ Investment Promotion
Agency, established in the Industries Department/ IDC. This body could have been created
by:
i. Legislation,
ii. Cabinet Note, or
iii. Government Order or a Notification

All three are acceptable.
The state may want to expand the mandate of the body to include all activities that are
suggested for Investors’ Facilitation Center/ Investment Promotion . This modification to
the mandate of an existing agency can be done either by seeking approval from the state's
cabinet or by passing a Government Order/ Notification.

Scenario II: The state does not have an IPA/ Cell but wishes to establish one. The same
should ideally be done by passing a legislation or seeking cabinet approval. This will ensure
that the organization has an undisputed legal backing to carry out all its functions.
However, a Cell/ IPA may also be created by passing a Government Order/ Notification.

What timelines are defined for addressing query submitted by investors?
The timelines for addressing query submitted by investors includes -
I. The queries regarding the application from the investor to be recorded and
addressed within a timeline of 15 days from the date of queries raised under
the PSDG Act/ any equivalent Act
II. Further it is also mandated that all clarifications related to industrial
applicants are sought only once and within 7 days of receiving the application
from the investor

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