The govt.  has offered to set up an exclusive enclave for Swedish companies and expatriates, complete with hospitals and educational institutions, as it seeks to woo investors from the European nation to boost the Make-in-India and start-up initiatives. The issue was discussed during the India-Sweden joint economic commission meeting, with commerce and industry minister suggesting the government was willing to offer land for setting up an “Investment Enclave” with plug-and-play infrastructure.

India and the Europe 29 group of Central, Northern and East European countries hold growth potential in areas such as AI, new age technologies, new manufacturing technologies and can be the beacons of growth in a slowing world,” Commerce & Industry Minister said. “The two regions have a lot of complementarities in areas such as smart cities, clean and renewable energy, start-ups, IT and ITES and can develop a strong economic relationship with each other,” he said at the India-Europe 29 Business Forum.

India took a huge stride in improving its ease of doing business, climbing 14 notches to clinch 63rd place in the list of 190 countries, according to the World Bank’s Doing Business Report, (DBR) 2020. India also remained among the world’s top 10 improvers for the third consecutive year. China too made it to the list. India’s ranking has improved 79 places in the past six years from 142 in 2014.

The Department for Promotion of Industry and Internal Trade (DPIIT) is in the process of setting up of a mechanism to handhold investors and help them set up their facilities in India. DPIIT Secretary said that the proposal is being sent to the Commerce and Industry Minister for approval, following which it will set up an investment promotion and facilitation agency Invest India. It will be funded by the DPIIT.