Indian Investment Center (IIC)
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Indian Investment Center (IIC) was set up in 1960 as an independent organization, which is under the Ministry of Finance, Government of India. The main objective behind the setting up of IIC was to encourage foreign private investment in the country.
The services that IIC provides are all free. The location of the head office of Indian Investment Center (IIC) is New Delhi. Indian Investment Center also had offices in London, Singapore, New York, Frankfurt, Tokyo, and Abu Dhabi. Indian Investment Center (IIC) was able to bring investments worth around ` 1,275 crore during 1981 and 1990.
The services of Indian Investment Center (IIC)
IIndian Investment Center (IIC) provides information and guidance on the Indian government's investment procedures, policies, incentives, infrastructure facilities, and investment opportunities.The services that IIC provides are all free. The location of the head office of Indian Investment Center (IIC) is New Delhi. Indian Investment Center also had offices in London, Singapore, New York, Frankfurt, Tokyo, and Abu Dhabi. Indian Investment Center (IIC) was able to bring investments worth around ` 1,275 crore during 1981 and 1990.
The various functions of Indian Investment Center (IIC) are
- To help foreign businessmen on matters that relate to technical and financial joint ventures in India
- To act as a single window agency for projects that involve foreign investments and to help foreign and Indian businessmen in meeting the various criteria that are required for project approvals
- To provide the Non Resident Indians (NRIs) with information regarding the government procedures, incentives, facilities, and polices that relate to them
- To provide the Non Resident Indians with such data that helps them in the selecting the correct projects
- To help the NRIs in getting approval from the authorities of the Indian government
- To provide help to the Indian businessmen so that they can establish joint ventures in foreign countries
- To provide escort services to Indian and foreign businessmen so that they can establish projects in India as well as abroad
- To help the foreign businessmen in selecting Indian parties for joint ventures so that they can set up projects in foreign countries
Indian Investment Center's alliances
Indian Investment Center (IIC) has signed Memorandum of Understanding with many organizations in order to encourage transfer of technology and investment from abroad. The organizations with which Indian Investment Center (IIC) has signed Memorandum of Understanding are:- Sanpaolo Bank, Italy
- ANZ Grindlays Bank
- Industrialization Fund for Developing Countries, Denmark
- Commerz bank, Germany
- Oman International Bank
- Bank of Tokyo- Mitsubishi Ltd
- Korea Institute of Industry and Technology Information
- Singapore Trade Development Board
- Industrial Development Corporation of Tobago and Trinidad
- Belgian Corporation for International Investment
The closure of Indian Investment Center (IIC)
The government of India has decided to close down the Indian Investment Center (IIC) for it was able to mobilize very small amount of investments for the country. In turn the Indian government has taken the decision to set up the Investment Commission in the place of Indian Investment Center (IIC).
