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July 2015

DIPP – Press Note No. 6 (2015 Series) dated June 3, 2015

By Gaurang Gandhi Chartered Accountant
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Review of Foreign Direct Investment (FDI) Policy on Investments by Non-Resident Review of the investment limit for cases requiring prior approval of the Foreign Investment Promotion Board (FIPB) / Cabinet Committee on Economic Affairs (CCEA)

This Press Note has revised Paragraph 5.2 of the Consolidated FDI Policy issued on May 12, 2015, with effect from June 18, 2015: –

5.2 Levels of Approvals for Cases under Government Route

5.2.1 The Minister of Finance who is in charge of FIPB would consider the recommendations of FIPB on proposals with total foreign equity inflow up to Rs. 3000 crore.

5.2.2 The recommendations of FIPB on proposals with total foreign equity inflow of more than Rs. 3000 crore would be placed for consideration of Cabinet Committee on Economic Affairs (CCEA)

5.2.3 The CCEA would also condier the proposals which may be referred to it by the FIPB/the Minister of Finance ( in-charge of FIPB).

5.2.4 The FIPB Secretariat in Department of Economic Affairs will process the recommendations of FIPB to obtain the approval of Minister of Finance and CCEA.

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