Prime Minister statement on Special Investment Facilitation Council (SIFC)
Prime Minister statement on Special Investment Facilitation Council (SIFC).
“He said I have fervently advocated a unified approach to steer the country out of the economic challenges on a path to sustainable growth. Employing a whole-of-the-the-government approach, the coalition government has decided to set up a Special Investment Facilitation Council (SIFC) with a mandate to frame economic policies that ensure policy predictability, continuity & effective implementation to revive the economy.
By virtue of its composition, the SIFC will serve as a top decision-making forum to push through fundamental reforms in the structure of the economy. To begin with, the forum will focus on leveraging key sectors such as IT, agriculture, energy, minerals and mining, and defence production.
Attracting investment from friendly countries remains one of the key goals of the SIFC. The immediate task is to increase FDI to $5 billion.
The need for a representative forum like the SIFC has long been felt, given the scale of the economic challenges caused by internal & external factors. The textbook approach to deal with a unique set of problems is not workable anymore. Hence all the more reason to leverage collective wisdom to kick-start the economy to make it self-reliant, export-driven, and robust, capable of withstanding external shocks and upheavals.
Creative ideas offer the solution to our economic problems.”
Editor: Raja Kamran