9 Feb 2017
INDIA: Foreign Investment Promotion Board Scrapped as FDI Regime Faces Further Liberalisation
With the country’s Foreign Investment Promotion Board (FIPB) now set to be scrapped, all future FDI proposals requiring prior government approval will be solely handled by the relevant ministries. The move comes following news that 90% of all FDI proposals made over the last three years were automatically approved under the Indian government’s liberalised investment regime. Further relaxation of this regime is expected in the coming months.
In June 2016, the Indian government liberalised the FDI rules applying to several key sectors, including civil aviation, defence, single brand retail, pharmaceuticals and food products. For further details, see INDIA: Liberalised FDI Rules Introduced for Food, Pharmaceuticals and Other Key Sectors.