Next edition of consolidated FDI policy to come out on Mar 31

Tags: FDI, Economy
The Department of Industrial Policy and Promotion plans to release the next edition of

RELATED ARTICLES

its consolidated FDI policy document on March 31, incorporating changes made over the past year.

"The next edition of the Consolidated FDI Policy Circular i.E. ‘Circular 1 of 2014’ is scheduled to be issued on March 31 and will be effective from May 1," the Department of Industrial Policy and Promotion (DIPP) said.

The previous (sixth) edition of the foreign direct investment (FDI) policy was issued in April 2013.

The DIPP, which is under the Ministry of Commerce and Industry, is the nodal agency on FDI policy. It compiles all policies related to India's FDI regime into a single document to make it simple and easy for investors to understand.

Investors would otherwise have to go through various press notes issued by the industry department and RBI regulations to understand the policy. The government updates the policy every year.

The DIPP has invited public comments on the document till January 17, it said.

FDI is considered crucial for economic development and India has taken several steps to attract such funds.

Last year, the government relaxed norms in about a dozen sectors, including telecom, defence, PSU oil refineries, commodity bourses, power exchanges and stock exchanges.

FDI inflows during April-November of the current financial year declined 15 per cent to $12.6 billion from $14.7 billion in the same period a year earlier.

India is projected to require about $1 trillion between 2012-13 and 2016-17, the 12th Five-Year Plan period, to fund infrastructure such as ports, airports and highways.

A decline in FDI would hurt the rupee, which had depreciated to a record low of 68.85 against the US dollar on August 28. The local currency has strengthened since then and was quoted at 62.38 per dollar at 1045 hrs today.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Divestment of projects can help reduce corporate leverage ratio

    A big issue that impinges on a bank’s asset quality is corporate leverage.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

Today's Columns

Urs Schoettli

Lee’s legacy will always guide Singapore

LEE Kuan Yew, the father of modern Singapore, died last ...

Zehra Naqvi

Fishy tales

Any book that claims to follow fish pulls my mind ...

Bubbles Sabharwal

Relationships and bitter realities

It’s a tangled web we spin The relationships we make, break ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture