ANNOUNCED AS TEMPORARYNo
FDI: Entry and ownership rule
In order to liberalize Foreign Direct Investment, the Foreign Investment Promotion Board (FIPB) has been decided to be abolished. The FIPB was authorized to provide approvals for certain FDI projects that were not allowed automatic approval by the government.
Instead of the FIPB, departments of the relevant ministries shall clear the FDI proposals in collaboration with the Department of Industrial Policy and Promotion.
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