Abolishes the Foreign Investment Promotion Board
05 Jun 2017
On 5 June 2017, the Indian Government announced the abolition of the Foreign Investment Promotion Board (FIPB), a government entity through which inward investment proposals were routed to obtain required government approvals from involved ministries. With the abolition of the single-window FIPB, the approval responsibilities are directed to individual ministries and government bodies for the individual concerned sectors, and a procedure for the interagency coordination has been determined.
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Type:
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Entry and establishment (Approval and admission)
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Industry:
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Sources:
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Ministry of Finance (Office Memorandum), Abolition of the Foreign lnvestment Promotion Board (FIPB), http://fipb.gov.in/Forms/OMabolitionFIPB.pdf, 05 Jun 2017
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Press Information Bureau, Government of India, Cabinet approves phasing out Foreign Investment Promotion Board , http://pib.nic.in/newsite/PrintRelease.aspx?relid=162097, 24 May 2017
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live mint, FIPB abolished: What happens to foreign investors now?, http://www.livemint.com/Politics/Cs8tkz7CqpiTGx4qnoDBQP/FIPB-abolished-What-happens-to-foreign-investors-now.html, 25 May 2017
