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 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.

EDITORIAL OF THE DAY

  • India’s political space acts as a safety valve for maverick politicians and frustrated electorate

    While it is easy to be cynical about Indian democracy and its ways, the fact is that the vast political space that the system provides for in this cou

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Taslima Nasreen

Bangladesh no country for atheists

It’s a matter of pride to be a freethinker, atheist ...

Purnendu Ghosh

Silence makes you aware of yourself

Often, we don’t feel the necessity of making contact with ...

Shona Adhikari

Artistic focus on women's empowerment

The focus on the girl child remains an important one ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture