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28 Apr 2021

Invest India wins UN Investment Promotion Award 2020

The United Nations Conference on Trade and Development (UNCTAD) recently declared Invest India, or the National Investment Promotion Agency of India, as a winner of the 2020 United Nations Investment Promotion Award. The award ceremony took place on December 7 at UNCTAD headquarters in Geneva. UNCTAD assessed the work of 180 investment promotion agencies (IPAs). The evaluation took into consideration the COVID-19 pandemic that led to numerous challenges for IPAs, forcing them to shift focus from routine investment promotion and facilitation towards crisis management, notification of government emergency and economic relief measures, provision of crisis support services and contribution to national COVID-19 business response efforts. All this was being done while agencies had closed offices, moved functions online and asked staff to work from home, a press release from the Indian ministry of commerce and industry said. In March 2020, UNCTAD constituted a team to monitor the response of IPAs to the pandemic. UNCTAD highlighted good practices followed by Invest India, such as the Business Immunity Platform, Exclusive Investment Forum webinar series, its social media engagement and focus COVID response teams created as a response to the pandemic, in its publications.