FIPB phase-out: A bold and welcome move – or is it?

By Damini Bhalla and Samir Dudhoria, Luthra & Luthra Law Offices
0
2403
LinkedIn
Facebook
Twitter
Whatsapp
Telegram
Copy link

In his 2017-18 budget speech, Finance Minister Arun Jaitley announced the decision to phase out the Foreign Investment Promotion Board (FIPB) by 2018. He stated that after the government’s substantial reforms to the foreign direct investment (FDI) policy over the past two years, more than 90% of India’s total FDI inflows were under the automatic route, and that the phasing out of the FIPB would be accompanied by further liberalization of the FDI policy.

Damini Bhalla, Luthra & Luthra Law Offices
Damini Bhalla
Partner
Luthra & Luthra Law Offices

The Ministry of Commerce and Industry welcomed the announcement, saying it was aimed at facilitating the ease of doing business in India and that the ministries in charge of the sectors in which FDI is under the approval route are competent to screen FDI applications and handle investment proposals.

The FIPB, an inter-ministerial body, offers a single-window clearance for all FDI applications under the approval route. At present, prior FIPB approval is required for FDI in about 14 sectors and about 10 different government ministries and departments are involved.

You must be a subscribersubscribersubscribersubscriber to read this content, please subscribesubscribesubscribesubscribe today.

For group subscribers, please click here to access.
Interested in group subscription? Please contact us.

你需要登录去解锁本文内容。欢迎注册账号。如果想阅读月刊所有文章,欢迎成为我们的订阅会员成为我们的订阅会员

已有集团订阅,可点击此处继续浏览。
如对集团订阅感兴趣,请联络我们

Damini Bhalla and Samir Dudhoria are partners at Luthra & Luthra Law Offices. The views expressed are personal. They are intended for general information purposes and are not a substitute for legal advice.

Luthra-Luthra-Law-offices-400x230

9th Floor, Ashoka Estate

Barakhamba Road

New Delhi – 110 001

India

Contact details:

Tel: +91 11 4121 5100

Fax: +91 11 2372 3909

Email: delhi@luthra.com

Website: www.luthra.com

LinkedIn
Facebook
Twitter
Whatsapp
Telegram
Copy link