India prepares to scrap foreign direct investment agency

India’s finance minister Arun Jaitley has signalled the end for the government’s Foreign Investment Promotion Board (FIPB), indicating that more reforms for defence investment in the country could be on the cards.

In Jaitley’s budget speech on 1 February he said the government’s reliance on the FIPB as a regulator of inward foreign direct investment (FDI) has dwindled as a result of reforms to improve the FDI proposal process.

In terms of defence and other sectors, these reforms have been focused on allowing FDI proposals to proceed through the “automatic route”, without the requirement for approval from the FIPB. Under the reforms, defence FDI only proceeds through the “government route” – or through the FIPB – when proposals feature investment above the stated FDI-defence limit of 49%. Read More…

Credit By: Janes

You may also read!

Troops Sent Back 63 Tonnes Of Garbage From World’s Highest Battlefield

Siachen troops have removed and sent back more than 63 tons of garbage to the Base, the Army today


India Declares Unflinching Commitment To Palestinian Cause

India’s commitment to the Palestinian cause and its solidarity with the Palestinian people can never be undermined, External Affairs


Commanders Of Tri-Services To Discuss Jointness

The 34th Tri Services Commanders Conference (South) will be hosted the Southern Command from 20-21 September.


Leave a reply:

Your email address will not be published.

Mobile Sliding Menu