Okayed Foreign Investment Proof Portal 853 FDI Proposals In 5 Years -by Ecork

The foreign investment portfolio has improved FDI 853 proposals in five years

The Foreign Investment Portal (FIF) has lost as many as 853 foreign direct investment (FDI) proposals in the last five years of its existence.

The FIF was formed after the Coalition Committee on May 24, 2017, removed the idea of ​​running away with the Foreign Investment Promotion Board (FIPB).

Following the abolition of FIPB, government agencies and departments related to the Department of Industrial and Internal Trade (DPIIT, under the Ministry of Commerce) were entrusted with the task of issuing certificates for foreign investment under FDI policy and FEMA regulations.

Then FDI proposals need to be submitted only on the FIF platform, which is controlled by DPIIT.

These proposals were also forwarded to the concerned regulatory body and at the same time to the Reserve Bank of India (RBI) and the External Affairs Department (for finding clauses) and the Internal Affairs Ministry (for special security clearance) .

Sources from the Commerce Department said that since the establishment of the FIF portal, FDI streaming in the country has gone. In 2014-15, FDI inflows in India stood at $ 45.15 billion, up from $ 83.57 billion in 2021-22, despite the Coronavirus pandemic and the ongoing Russia-Ukraine conflict.

During 2021-22, foreign investment flows in traffic from 101 countries, while it was reported from 97 countries in 2020-21.

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