Next edition of consolidated FDI policy released by DIPP

The Dollar Business Bureau

The next edition of consolidated FDI policy details were released by the Ministry of Commerce  on Aug 28, incorporating the changes made last year.

The Department of Industrial Policy and Promotion (DIPP) in its press release said that the ‘new circular will take effect’ from today ie, Aug 28, 2017.

The consolidated FDI policy is a compilation of the various decisions taken by the government in the past year and the DIPP which deals with FDI related matters, compiles all policies related to foreign investment regime into a single document to make it simple and easy for investors to understand.

This enables an investor friendly climate for foreign investors who would otherwise have to go through various press notes and the RBI regulations released by DIPP to understand the policy.

During last year, there have been liberalisations in FDI policies in many sectors that included defence, construction and development, security agencies, civil aviation, news broadcasting to name a few.

India needs over $1 trillion foreign investments to develop its infrastructure sector such as airports, highways and ports to boost development and growth.

Foreign investments will help improve the country’s balance of payments situation and strengthen the rupee value against other global currencies, especially the US dollar.

(Source: PTI)