Foreign Investment Promotion Board
Encyclopedia
The Foreign Investment Promotion Board (FIPB) is a national agency of India
, with the remit to consider and recommend foreign direct investment
which does not come under the automatic route.
It offers a single window clearance for proposals on Foreign Direct Investment (FDI) in India that are not allowed access through the automatic route. FIPB comprises Secretaries drawn from different ministries with Secretary, Department of Economic Affairs
, MoF in the chair.
With the shifting of the FIPB to the Department of Economic Affairs, Ministry of Finance, the FIPB has been reconstituted as under:
The Board would be able to co-opt Secretaries to the Government of India and other top officials of financial institutions, banks and professional experts of industry and commerce, as and when necessary
Ceiling raised for FIPB clearance
India
India , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...
, with the remit to consider and recommend foreign direct investment
Foreign direct investment
Foreign direct investment or foreign investment refers to the net inflows of investment to acquire a lasting management interest in an enterprise operating in an economy other than that of the investor.. It is the sum of equity capital,other long-term capital, and short-term capital as shown in...
which does not come under the automatic route.
It offers a single window clearance for proposals on Foreign Direct Investment (FDI) in India that are not allowed access through the automatic route. FIPB comprises Secretaries drawn from different ministries with Secretary, Department of Economic Affairs
Department of Economic Affairs
The Department of Economic Affairs could refer to:*Department of Economic Affairs - A government body in the UK in the 1960s.*Federal Department of Economic Affairs - A government body in Switzerland....
, MoF in the chair.
With the shifting of the FIPB to the Department of Economic Affairs, Ministry of Finance, the FIPB has been reconstituted as under:
- Secretary, Department of Economic Affairs Chairman
- Secretary, Department of Industrial Policy & Promotion Member
- Secretary, Department of Commerce Member
- Secretary, (Economic Relation), Ministry of External AffairsMinistry of External Affairs (India)The Ministry of External Affairs is the foreign ministry of India. It is the Indian government agency responsible for the foreign relations of India. The Minister of External Affairs holds cabinet rank as a member of the Council of Ministers. The current minister is S M Krishna...
Member
The Board would be able to co-opt Secretaries to the Government of India and other top officials of financial institutions, banks and professional experts of industry and commerce, as and when necessary
Ceiling raised for FIPB clearance
- In a significant move aimed at expediting flow of foreign investment into the country, the Union Cabinet liberalised the foreign direct investment (FDI) policy further by allowing the Foreign Investment Promotion Board (FIPB) to clear proposals from overseas entities worth up to Rs. 1,200 crore, against the existing limit of Rs. 600 crore.
- Proposals involving total foreign equity inflow of more than Rs. 1,200 crore would be placed for consideration of the Cabinet Committee on Economic Affairs (CCEA).