1) About Project Development Cell: The Union Cabinet, on 3rd June 2020, under the leadership of Hon’ble Prime Minister Shri Narendra Modi has given its approval for setting up of a Project Development Cells (PDCs) in Ministries/Departments of Government of India for attracting investments in India. This mechanism will reinforce India’s vision of becoming a US$ 5 trillion economy by 2024-25.
PDC, Ministry of Petroleum & Natural Gas aims to enhance the investment friendly ecosystem that strongly supports the domestic investor as well as FDI and will boost the economy manifold. To provide Investors a seamless access to the Indian market, Project Development Cell members include officials from public sector undertakings and regulatory authorities and actively engage with state nodal departments and relevant stakeholders to facilitate investors with multiple queries on the policy, incentives and investment opportunities, and provide regulatory support on approvals.
2) Project Development Cell at The Ministry of Petroleum & Natural Gas aims to:
a. Create projects in the oil & gas sector with approvals, land available for allocation and with the complete Detailed Project Reports for adoption/investment by investors
b. Facilitate investments in a timely and targeted manner
c. Provide the necessary support on the issues faced by investors to finalize their investment plans. Project Development Cell will also be responsible for putting forward shortlisted issues before the Empowered Group of Secretaries