Government intensifies FDI approval from other neighboring countries including China, know full details
Government of India Has greatized the procedures of approval of foreign direct investment (FDI) applications from several neighboring countries, including China. Giving this information, an official said that fast decisions are being taken in this matter and regular inter-ministry committee meetings are being held. He said that it is being ensured that the FDI should be approved within the prescribed confession.
Pre -approval for foreign investment compulsory from neighboring countries
The government had made prior approval for foreign investment from countries sharing land border with India under Press Note three of 2020. These countries are China, Bangladesh, Pakistan, Bhutan, Nepal, Myanmar and Afghanistan. The official said that the number of FDI pending from these countries (FDI) proposals is quite low. He told PTI, “The government has largely organized the process for approval of applications under 2020 Press Note 3. The time taken to take decisions on these applications has also reduced considerably.
Cabinet secretary level is also regularly reviewing meetings
The official said that meetings of the inter -ministerial committee are being held regularly to ensure that these applicants are decided within the stipulated time. The officer said on the condition of anonymity that these meetings are reviewed regularly at the cabinet secretary level. An inter-ministerial committee headed by the Home Secretary considers applications under this press note.
How FDI figures were in March quarter
Let us tell you that in the fourth quarter of FY 2024-25, the FDI was recorded at $ 9.34 billion in the country with a big fall of 24.5 percent on an annual basis. According to official data, FDI flowed at $ 9.34 billion in the March quarter, which is less than $ 12.38 billion FDI during January-March 2023-24. However, during the entire financial year (2024–25), the flow of FDI in the country increased by 13 percent to $ 50 billion. It was $ 44.42 billion in FY 2023-24.
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