Investment promotion panel holds first meeting, targets $72 billion in exports

An investment promotion panel convened its inaugural meeting on Tuesday, setting an ambitious target of $72 billion in export earnings over the next five years. The panel, chaired by a senior official from the Ministry of Commerce, includes representatives from key ministries, state governments and industry bodies. Its mandate is to identify bottlenecks that hinder foreign and domestic investors and to propose measures that can boost the country’s trade balance. The $72 billion goal reflects the government’s broader objective of expanding export volumes to narrow the current current‑account deficit.

During the session, members examined the draft industrial policy that the TVK‑led state administration has been preparing, focusing on incentives for small and medium enterprises and the creation of sector‑specific clusters. A major point of discussion was the single‑window clearance system, which aims to reduce the time required for project approvals by consolidating permits from multiple agencies into one online portal. Participants also reviewed more than two dozen memoranda of understanding signed since the new government took office, covering sectors such as renewable energy, electronics manufacturing and logistics infrastructure.

Analysts say that if the panel’s recommendations are implemented swiftly, they could improve India’s ranking in global ease‑of‑doing‑business surveys and attract higher foreign direct investment flows. The emphasis on export‑oriented manufacturing aligns with the government’s Make in India initiative, which seeks to shift production from low‑value assembly to higher‑value processes. The next step involves the panel submitting a detailed report to the cabinet within the next month, after which ministries will be expected to draft legislation or regulatory changes to meet the export target.