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Replacing FIPB with Standard Operating Procedure Not Enough
[journal article]
Abstract Foreign investment into India has always been heavily regulated, requiring approvals from various government ministries. Post-liberalisation, a need was felt to create a single window for foreign investors applying for such approvals. As a result, the Foreign Investment Promotion Board (FIPB) was es... view more
Foreign investment into India has always been heavily regulated, requiring approvals from various government ministries. Post-liberalisation, a need was felt to create a single window for foreign investors applying for such approvals. As a result, the Foreign Investment Promotion Board (FIPB) was established in August 1991. Initially, it was placed within the Prime Minister's Office (PMO) since its credibility needed to be projected speedily. Then it shifted to Department of Industrial Policy and Promotion (DIPP) and finally to Department of Economic Affairs (DEA) in Ministry of Finance. Here it functioned as an inter-ministerial body making recommendations to the Finance Minister for grant of approval for foreign investments as per the regulations under the Foreign Exchange Management Act, 1999.... view less
Classification
Economic Policy
Free Keywords
India; FDI; Investment
Document language
English
Publication Year
2017
Page/Pages
2 p.
Journal
IndraStra Global (2017) 7
ISSN
2381-3652
Status
Published Version; peer reviewed
Licence
Deposit Licence - No Redistribution, No Modifications