FIFP India clears 853 FDI proposals in 5 yrs
As many as 853 foreign direct investment (FDI) proposals have been disposed of through the foreign investment facilitation portal in the last five years, the Union Commerce and Industry Ministry said on Tuesday.
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New Delhi: As many as 853 foreign direct investment (FDI) proposals have been disposed of through the foreign investment facilitation portal in the last five years, the Union Commerce and Industry Ministry said on Tuesday.
The Foreign Investment Facilitation Portal (FIFP) was developed after the abolition of Foreign Investment Promotion Board (FIPB) in May 2017. After the abolition of FIPB, granting of government approval for overseas investment under the FDI (Foreign Direct Investment) policy and FEMA (Foreign Exchange Management Act) regulations was entrusted to the concerned ministries/departments, the commerce ministry said in a statement. The Department for Promotion of Industry and Internal Trade (DPIIT), under the ministry, was made the nodal department.
It said, "853 FDI proposals have been disposed of through FIFP since abolishment of FIPB."
