F. No. 1/7/2004-FIU
Government of India
Ministry of Finance
Department of Economic Affairs
(Fund Bank Division)
North Block, New Delhi, Dated December 13, 2004
| 1.
|
The President is pleased to appoint the following
to the Investment Commission |
| |
1.
|
Shri Ratan Tata |
Chairman |
| |
2. |
Dr. Ashok Ganguly |
Member |
| |
3. |
Shri Deepak Parekh |
Member |
| 2. |
Detailed terms and conditions of appointments will be issued in
due course. |
| 3. |
The terms of reference
of the Investment Commission will include : |
| |
a) |
The Investment Commission is constituted initially
for a period of 3 years; |
| |
b) |
The Investment Commission will be located within
the Government (in the Ministry of Finance) and will enjoy operational
autonomy and Government support; |
| |
c) |
The Investment Commission will seek meetings and
visit with industrial groups/houses in India and with large companies
abroad, particularly in sectors where there is a dire need for
investment but adequate investment has not flowed so far. The
Commission will interact closely with the Boards of Directors
of potential investing companies. |
| |
d) |
In respect of Indian investors, the Commission would
also address the issue of bridging the gap between “announcements”
and “proposals” and also the gap between “proposals”
and “project implementation”. |
| |
e) |
The Commission would endeavour to secure a certain
level of investment every year and its progress will be reviewed
at the end of every quarter. |
| |
f) |
The Commission will make recommendations to Government
both on policies and procedures to facilitate greater FDI flows
into India. |
| 4. |
The recommendations of the Investment Commission
will be processed in the Ministry of Finance and will be put
up to the competent authority for approval. All policy decisions
emerging from the recommendations of the Investment Commission
would be put up to the Cabinet Committee on Economic Affairs
(CCEA) for approval.
(M.S. Vardi)
Director |
| |
|
|
| 1. |
Shri Ratan Tata, Bombay House,
Homi Mody Street, Mumbai – 400 001 (Ph. +91-22-56658282). |
| 2. |
Dr. Ashok Ganguly, ICICI one
Source, 6th Floor, Peninsula Chamber, Ganpatrao Kadam Marg, Lower
Parel, Mumbai – 400 013. (Phone No. +91-22-5666 0888). |
| 3. |
Shri Deepak Parekh, Chairman,
HDFC, Ramon House, 169, Backbay Reclamation, HT Parekh Marg, Mumbai
– 400 020. |
| 4. |
Office of the Establishment
Officer, Department of Personnel & Training. |
| 5. |
Government of India Press,
New Delhi. |
Copy for information to:- |
1. |
PS to Finance Minister, North
Block, New Delhi. |
2. |
PPS to the Secretary, DEA,
North Block, New Delhi. |
3. |
PPS to Secretary (Revenue),
North Block, New Delhi. |
4. |
PPS to Secretary (Expenditure),
North Block, New Delhi. |
5. |
PPS to Secretary (Finance Sector),
New Delhi. |
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