The Government will clear all FDI proposals requiring approval within a maximum of 10 weeks after the receipt of an application as per the standard operation procedure which replaces FIPB. The move is aimed at improving investment climate of the country. The new mechanism will replace the Foreign Investment Promotion Board , abolished by the government. As per the standard operation procedure (SOP) released by DIPP today, proposals not requiring security clearance would be cleared in eight weeks and applications that require security nod would take a cumulative time period of ten weeks.
