Published on: May 26, 2022

FOREIGN INVESTMENT FACILITATION PORTAL

FOREIGN INVESTMENT FACILITATION PORTAL

http://coastroadrunners.com/courses/5-10km-course/photo-23-07-2016-09-35-54/ NEWS : Caçapava Foreign Investment Facilitation Portal (FIFP)  completes 5 years

DETAILS

  • Set up after Union Cabinet decision to abolish Foreign Investment Promotion Board
  • New online single point interface of the Government of India for investors to facilitate Foreign Direct Investment
  • Administered by the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce & Industry
  • Facilitate the single window clearance of applications which are through the approval route

FOREIGN INVESTMENT PROMOTION BOARD

  • Inter-ministerial body that offers a single window clearance for applications on Foreign Direct Investment (FDI) that are under the approval route
  • Was chaired by finance secretary
  • FDI proposals up to 3,000 crore rupees was cleared by the FIPB
  • However, those proposals involving FDI of more than 3,000 crore rupees are given final clearance by the Cabinet Committee on Economic Affairs (CCEA)
  • FIPB will be abolished in 2017-18 as declared by Finance Minister in Budget speech.