Country’s FDI Environment Is The World’s Most Generous
Country’s FDI environment is the world’s most generous, investing more than $ 22 billion in the Corona era. Kant also believes that a better online dispute resolution (ODR) mechanism will ensure justice at a lower cost in a faster and reliable manner.
NITI Aayog’s Chief Executive Officer (CEO) Amitabh Kant said on Saturday that Country’s Foreign Direct Investment (FDI) environment is one of the most liberal in the world.
This is the reason that even in a climate of crisis like Corona, foreign investment of more than $ 22 billion (about 1.65 lakh crore rupees) has taken place in the country. Of this, about 98 percent of investment has been made through the FDI automatic route.
Amitabh Kant said at an industry event that the country has jumped nearly 79 places in the Ease of Doing Business global ranking because of the steps taken by India to attract FDI. We have targeted to be in the top 50 this year and the top three next year.
Kant also believes that a better online dispute resolution (ODR) mechanism will ensure ‘justice’ in a faster and reliable manner at a lower cost. This will improve the ease of doing business. He said that ODR is a fast emerging solution system. In this, technology is not only used for help, but also for efficient and low cost justice.
Addressing a virtual conference on the use of ODRs to improve business ease, Kant said, “A better ODR mechanism has the potential to provide justice and improve business accessibility by reducing the cost of dispute resolution.”
Addressing the same program, former Supreme Court judge BN Srikrishna said that ODR can serve as a complement to the court system. He said that in reality it would be helpful for the court system. With this, a large number of cases will be resolved before coming to court.
