2020 United Nations Investment Promotion Award

Context: Invest India, an investment promotion and facilitation agency of the Union government, won the ‘2020 United Nations Investment Promotion Award’.

• The award recognises and celebrates the outstanding achievements of the world’s investment promotion agencies.
• The evaluation was based on UNCTAD’s assessment of work undertaken by 180 national investment promotion agencies across the world.

UNCTAD

• The United Nations Conference on Trade and Development (UNCTAD) was established in 1964 as a permanent intergovernmental body.
• UNCTAD is the part of the United Nations Secretariat dealing with trade, investment, and development issues.
• The organization's goals are to: "maximize the trade, investment and development opportunities of developing countries and assist them in their efforts to integrate into the world economy on an equitable basis".
• UNCTAD was established by the United Nations General Assembly in 1964 and it reports to the UN General Assembly and United Nations Economic and Social Council.
• The primary objective of UNCTAD is to formulate policies relating to all aspects of development including trade, aid, transport, finance and technology.

Invest India

• Invest India, set up in 2009, is a non-profit venture under the Department for Promotion of Industry and Internal Trade, Ministry of Commerce and Industry, Government of India.
• As the national investment promotion and facilitation agency, Invest India focuses on sector-specific investor targeting and development of new partnerships to enable sustainable investments in India.
• In addition to a core team that focuses on sustainable investments, Invest India also partners with substantial investment promotion agencies and multilateral organizations.
• Invest India also actively works with several Indian states to build capacity as well as bring in global best practices in investment targeting, promotion and facilitation areas.

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