New Delhi: A Parliamentary panel has asked government to set up a single body for dealing with foreign direct investment (FDI) matters and to facilitate export-oriented FDI, as in the case of China.

"The committee recommends that government must strive to set up a single body for dealing with FDI matters so as to negate the confusion/complexity of foreign investors who want to invest in the country," the Parliamentary Committee on FDI said in its 54th report tabled in Parliament on May 2.

It also pointed out the need for government to accentuate its FDI policy to facilitate and attract foreign investors towards export-oriented FDI to boost its overall level.

"The department should accentuate its policy....so as to facilitate and attract foreign investors towards export-oriented FDI, so as to boost the level of FDI, as in China, where large amounts of FDI inflow were in the form of export-oriented FDI," the panel observed.

Among the other areas, which need improvement for ensuring better FDI inflow include the regulatory framework so that delays can be reduced. Also, various state governments must follow through in implementing their own declared policies.

"The large gap between high-profile policy statements on the one hand and their implementation on the other should be streamlined," the panel added.

PTI