Fipb
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The document discusses the Foreign Investment Promotion Board (FIPB) in India, which was abolished in 2017. It provides background on FIPB's formation in 1991 to boost foreign investment, and its regulation over time by different departments. FIPB's main role was to provide single window clearance for investment proposals through the government route (10% of proposals). Its abolition was part of the Indian government's strategy under Make in India to attract more foreign direct investment by simplifying processes and reducing delays for approvals.
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Fipb
- 2. Formed in year 1991 Regulated by many departments and ministries over time Main aim was to boost up Foreign investments in India Board works as a single window clearance for Investment proposals (Government route) 1991- PMO 1996- DIPP 2003-DEA & Ministry of Finance 2017- DIPP
- 6. Also known as “Approval route” Term “Government” means authorised entities for granting approvals Covers many automatic routes too Before abolishment all applications regarding Investments through government route was considered by FIPB It will be consider by DIPP after abolishment
- 7. • Announced in Budget speech 2017 • Union Cabinet approved 24.May.2017 • Notification regarding concerned ministries to entertain FDI proposals 5.Jun.2017
- 8. Abolition of FIPB was a part of Government strategy (BJP, NDA) For getting more for FDI inflows Make in India initiative is also a reason for abolishment of FIPB 90% of FDI applications were getting through automatic route Make in India increased FDI inflows by 9 billion$ (35- 44b$,2014-15)
- 10. India will be more Investment friendly Doing business in India will become more attractive Encouraging signal for investors Delays for approval will be reduced Economic growth will be thr New SOP will shorten the process of FDI proposals
Editor's Notes
- India’s oil imports were so high , credits were dried up ,devaluation, investors start taking out money from Indian market
- Announced in budget speech 2017 24.May.2017 Union Cabinet approved this decision On 05.Jun.2017 “Office memorandum” after FIPB is Specified Work will be directed to different departments/ministries concerned
- Abolition of FIPB was a part of Government strategy (BJP, NDA) For setting up new roadmaps for FDI inflows Make in India initiative is also a reason for abolishment of FIPB As board was acting as a strict checker for FDI applications Make in India increased FDI inflows by 9 billion$ (35-44b$,2014-15)
- SOP- Standard Operating Procedure New advanced portal will be introduced all applications will be received through online portal only, only applications having errors or omissions will be called in physical form DIPP will direct FDI proposals to ministries and departments SOP to be introduces for smoother flow of FDI requests DIPP’s approval required for rejection of proposals New online portal – Foreign Investment facilitation Portal
- 10 week where security clearance is required 8 where not