Foreign Investment Promotion Board (FIPB),
constituted by Government of India, is presided over by the Secretary -
Department of Industrial Policy & Promotion. The board aims at
promoting growth in the industrial sector and maximizing inflows of
foreign direct investment into the country. It is also endowed with the
responsibility of providing requisite institutional arrangements and
providing various guidelines for investment promotion in the country.
FIPB even takes into account the various schemes and policies related to
foreign investment (other than those policies that are qualified for
automatic approval by the Reserve Bank of India). It recommends
appropriate measures to augment foreign direct investment into India.
Objectives, in the form of investment promotion activities and
encouraging investment by international companies, foreign investors and
Non Resident Indians (NRIs) targeted at increasing the foreign direct
investment of the country, are covered by the board.
All investment proposals are taken into account with or without
technical alliance and industrial license. Every week a meeting is
organized between the board members to consider the various application
forms within 15 days of their receipt. Decisions are made known to the
applicants within four weeks after the receipt of the forms. In short,
the Foreign Investment Promotion Board does all that is required for
promoting foreign investment in Indian economy.
