New Delhi, August 28, 2017
The Department of Industrial Policy & Promotion (DIPP) has released its latest edition of consolidated foreign direct investment (FDI) on Monday incorporating all the changes in rules and procedures notified by the government throughout the last one year.
“The present consolidation subsumes and supersedes all press notes/press releases/carifications/circulars issued by DIPP, which were in force as on August 27, 2017 and reflects the FDI Policy as on August 28, 2017,” the official notification stated.
The consolidated policy lays down the general conditions on FDI, procedures for government approval and sector specific conditions on FDI.
In the past year, the government has liberalised FDI rules in a number of sectors, including food retail, construction and development, civil aviation, defence and private security agencies.
According to government estimates, more than 90 per cent of FDI now flows into the country through the automatic route without the requirement for clearances.
[The Hindu Business Line]