New Delhi: Smart Group and Singapore's Spice Global Chairman B. K. Modi on Tuesday announced the launch of an investor platform for Foreign Passport Holding Indians (OCI). This platform has committed to invest 100 billion dollars in the country. Its main focus will be on global economic investment by OCI in various industry sectors of the country.
Modi said in a press conference here that the OCI (Overseas Citizen of India) investor forum has the potential to increase the country's economic growth rate by 50 percent against the current level. In this direction, he is going to make the first major investment on several projects in Kashmir.
Modi said that among its first projects, OCI Investor Forum is working on the project to open 100 global wellness hotels in Kashmir. In this regard, the forum has taken the initiative to hold talks with landowners in Delhi in May and Srinagar in June.
It did this before the central government announced in August to remove the provisions of Article 370 of the Constitution and divide the state into two union territories. Modi also advocated raising the time limit for OCI's stay in the country from 180 days to 270 days through the platform. He also urged the government to bring a policy to take measures to protect their interests, investment etc. in the country.
The forum said, 'OCIs are accountable to the law in their country. In such a situation, they should be kept out of the purview of Income Tax, Enforcement Directorate and CBI etc. '
