DIPP soon to release guidelines for FDI proposals clearance

In order to seek opinions from various departments, the DIPP has prepared a draft SOP and is circulating it to them.

As the government has abolished the Foreign Investment Promotion Board (FIPB), it will soon come up with the standard operating procedure (SOP) for the clearance of foreign investment proposals.
 
In order to seek opinions from various departments, the DIPP has prepared a draft SOP and is circulating it to them. 
 
Now the FIPB portal would be linked with the e-business portal. Timelines have been set for all the steps to be taken such as number of days for sending comments and giving security clearance, a senior ministry official said.
 
The Finance Ministry had recently stated that the Department of Industrial Policy & Promotion (DIPP), in consultation with the administrative ministry, would come out with detailed guidelines for processing FDI proposals.
 
(Source: Agency) 

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