Only 70% of phase-I of IICC project completed even after delay of 3 years: Par panel

AgenciesUpdated: Tuesday, March 22, 2022, 06:31 PM IST
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The committee has also recorded its discontentment over the slow pace of utilisation of fund of funds for startups (FFS) and has suggested to utilise the enhanced allocation within this financial year. / Representational image |

Expressing disappointment over the slow pace of work for the construction of phase-I of the India International Convention Centre project, a Parliamentary panel on Tuesday asked the DPIIT to closely monitor its progress.

Located in Sector 25, Dwarka here, the India International Convention Centre (IICC) will be a modern exhibition-cum-convention centre, with facilities like financial, hospitality and retail services. The estimated cost of the project is Rs 25,700 crore.

A report of the Parliamentary Standing Committee on Commerce has recommended to the Department for Promotion of Industry and Internal Trade (DPIIT) to closely monitor the progress of the project and ensure its completion and commissioning without further delay.

''The committee is unhappy to note that only 70.09 per cent of phase-I of IICC project has been completed even after a delay of over three years and complete utilisation of budgetary support of Rs 2,442.39 crore,'' the report said.

The committee has also recorded its discontentment over the slow pace of utilisation of fund of funds for startups (FFS) and has suggested to utilise the enhanced allocation within this financial year.

''The committee observes that the department has been able to utilise only Rs 830 crore, and Rs 500 crore, which is the enhanced allocation at RE stage, remains unutilised,'' it added. It has also expressed concern over the low share of the patent filed by domestic firms.

''This indicates that concerted effort is required for the creation of awareness, promotion and generation of domestic IPR (intellectual property rights),'' it said, adding the number of patents granted in India is ''minuscule'' compared to its counterparts like the US and China.

Generation of patents on par with these countries is crucial to be competitive in the global market, it said.

''The committee is of the opinion that serious efforts have not been made to reduce the time taken for patent examination, specifically in the fields of communication, computers, biomedical, food, biotechnology and textiles,'' it added.

(With inputs from PTI)

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