In its endeavour to ease the process for FDI applications, Government launched a new secured FIPB website namely http://fipb.gov.in in 2015. Website offers increased portfolio services to applicants in an efficient manner and also allows more transparent way of business to keep applicant informed on the current status of their applications.
The efforts of the Government have yielded results and FDI during 2014-15 is US $44,877 million as compared to US $36,046 million in 2013-14. To further boost the investment environment and to bring in foreign investments in the country, the Government has brought in FDI related reforms and liberalization. The salient measures are:
• No approval required for eligible investment in Limited Liability Partnerships.
• Special treatment applicable for investment by non-resident Indians on non-repatriation basis through companies, partnerships, trusts etc.
• No approval required for foreign investment by way of share swap; new sectors opened up for foreign investment, including plantations, duty free shops and ownership in real estate for purposes of leasing.
• Foreign shareholding limits increased in many sector including broadcasting and airline services.
• Investment in certain sectors including defence, broadcasting and airline services, now under automatic route.
• Full fungibility for portfolio investment in private banking sector.
• Conditions attached to FDI relaxed in certain sectors, including removal of restriction on e-commerce by manufacturers and removal of minimum land and capitalization requirement for construction development sector.
Present FDI Policy and other Press Notes are available at DIPP website namely http://dipp.nic.in.
This was stated by Shri Jayant Sinha, Minister of State in the Ministry of Finance in written reply to a question in Lok Sabha today.