99 FDI proposals pending for approval

At least 99 foreign direct investment (FDI) proposals are pending for ministerial approval, half of with the Department of Industrial Policy and Promotion (DIPP).The government through erstwhile Foreign Investment Promotion Board (FIPB) had been considering and taking decisions on FDI proposals in the sectors on approval route.But the work of granting government approval for foreign investment in 11 notified sectors/activities requiring government approval has now been entrusted to the administrative ministries/departments concerned, Commerce and Industry Minister Nirmala Sitharaman said in a written reply to the Rajya Sabha.Consequently, Standard Operating Procedure (SOP) for processing FDI Proposals has also been issued on June 29, Nirmala said.
Source: DH

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