Invest India won the UN Investment Promotion Award 2020
The ‘Invest India’ has been declared as as winner of the 2020 United Nations Investment Promotion Award by the United Nations Conference on Trade and Development (UNCTAD).
The award ceremony was organised at UNCTAD Headquarters in Geneva on December 7, 20020.
Purpose of the award
The UN Investment Promotion Award 2020 recognize and celebrate the outstanding achievements of the World’s best-practice investment promotion agencies. The evaluation for the award is based on UNCTAD’s assessment of work. The assessment work was undertaken by 180 national Investment Promotion Agencies from across the world.
How the award was evaluated?
The COVID-19 pandemic had bring about more important challenges for investment promotion agencies. UNCTAD had constituted a team to monitor the Investment Promotion Agencies response to the pandemic in March 2020. The response to the pandemic was the basis for the evaluation of the 2020 United Nations Investment Promotion Award.
United Nations Conference on Trade and Development (UNCTAD)
It is a part of the United Nations Secretariat. The body deals with trade, investment, and other development issues. The primary goals of the body include- to maximize the trade, investment and development opportunities for the developing countries and to assist these countries in their efforts to integrate into the world economy. UNCTAD was established by the United Nations General Assembly in the year 1964. The body reports to the UN General Assembly and United Nations Economic and Social Council.
Objective of UNCTAD
The main objective of the body is to formulate policies related to all aspects of development such as trade, Transport, finance, aid and technology. The conference meets once in four years. The permanent secretariat is based in Geneva.