India Wins UN Sustainable Investment Destination Award
Last updated on February 21st, 2023 at 12:55 pm
India Wins UN: India ‘s Invest India project has received the prestigious United Nations Investment Promotion Award 2020 recently at the UNCTAD headquarters in Geneva marking the United Nations Conference on Trade and Development (UNCTAD).
Invest India is an investment promotion and facilitation agency of the Union government. Speaking to the agency, PM Narendra Modi said that the award is a testimony to Indian government’s focus on making the country the world’s preferred investment destination and improving ease of doing business.
The social media is the preferred mode of communication and while the Centre locks horns over the farmer’s bill and farmer imposed national lockdown, congratulatory tweets have been pouring in.
The award has recognised and celebrated outstanding achievements of the world’s investment promotion agencies. The evaluation was based on UNCTAD’s assessment of work undertaken by 180 national investment promotion agencies across the world.
In 2019, investment promotion agencies and special economic zone authorities had won this prestigious award. The countries included China, South Africa and Sri Lanka.
In Sri Lanka, the award was won by the Board of Investment for its strategic approach in targeting investors in solar panel manufacturing and for facilitating a US$36 million investment by JSF Corporation, a subsidiary of REK Co. Ltd. from Japan. South Africa won the award for its role in setting up partnerships and positioning the region as an attractive destination for high-value-added and export-oriented technology production.
The Guangzhou Development District Administration Committee from China won for its instrumental role in realizing the GE BioCampus project, a partnership between General Electric and the Guangzhou Development District.
It has been commendable how India has used the pandemic times to up its game and show the power of self-reliance and ability to harness renewable energy sources to keep themselves afloat. India has also opened itself to foreign investment encouraging all those countries that have decided to shift manufacturing operations from China to other parts of the world. This two-pronged approach has helped bring back India on the world map of growth and development.