The Commerce and Industry Ministry is planning to release the next edition of its consolidated FDI policy document soon, incorporating all the changes made over the past year. “The next edition of the consolidated FDI policy circular of 2017 is due to be issued this year, which would incorporate all the changes effected in FDI policy...,” the Department of Industrial Policy and Promotion (DIPP) said.
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. DIPP has also invited public comments on the document.
FDI is considered crucial for economic development and India has taken several steps to attract such funds. last year, the Government tweaked norms in over a dozen sectors including defence, civil aviation and single brand retail. FDI inflows during April-September of the current financial year grew by 30 per cent to $21.62 billion from $16.63 billion in the same period a year earlier.
