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India Inc. congratulates Invest India for winning UN Investment Promotion Award

BusinessToday.In     December 8, 2020

'Invest India' has been conferred with the top spot for the 2020 United Nations Investment Promotion Award. In the ceremony at the UN headquarters in Geneva, the United Nations Conference on Trade and Development (UNCTAD) declared 'Invest India' as winner of the award that recognises and celebrates achievements of the world's best-practice investment promotion agencies.

UNCTAD had assessed work done by 180 such investment promotion agencies globally before zeroing in on 'Invest India' as the winner. UNCTAD had started monitoring IPA responses worldwide starting March 2020.

Indian CEOs Anand Mahindra, Vijay Shekhar, Ritesh Agarwal, and Kiran Mazumdar Shaw took to social media to congratulate the Invest India team.

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Retweeting the official announcement made by the Invest India team, Anand Mahindra of the Mahindra Group said about Invest India that "their single-minded goal is to make India the world's foremost investment destination."

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Vijay Shekhar Sharma, the founder of Paytm, said that the agency operated "like an aggressive private organisation," appreciating how motivated the Invest India team is.

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Ritesh Agarwal, founder and CEO of Oyo rooms also posted the achievement, saying that it is yet another proud moment for the country.

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Kiran Shaw, chairperson of Biocon tweeted that for Invest India, it is "a proud feather in the cap" to have taken the giant leap at "warp speed."

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Investment promotion agencies (IPAs) had incurred challenges due to the COVID-19 pandemic, which got them to divert their focus from the routine investment promotions to cater to crisis management; provision of support services, economic relief measures, and a general contribution towards business response efforts.  

Previously, Germany, South Korea, and Singapore have been conferred with the award by UNCTAD, which is the central agency monitoring performance of investment promotion agencies and identifying best practises globally.

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