Within two days of submitting the application, the DIPP (Department for Industrial Policy and Promotion) will then direct the proposal to the appropriate Ministry or government department for approval. A copy will also be forwarded to the RBI for FEMA approval.

How do I get FIPB approved?

Within two days of submitting the application, the DIPP (Department for Industrial Policy and Promotion) will then direct the proposal to the appropriate Ministry or government department for approval. A copy will also be forwarded to the RBI for FEMA approval.

How can I apply for FDI in India?

FDI Reporting Requirements

  1. Certificate from the Company Secretary of the company accepting investment from persons resident outside.
  2. Certificate from Statutory Auditors or Chartered Accountant indicating the manner of arriving at the price of the shares issued to the persons resident outside India.

What has replaced FIPB?

The FIPB is being replaced by the Foreign Investment Facilitation Portal (FIFP) in May 2017. Foreign Investment Facilitation Portal (FIFP) is the online single point interface of the Ministry of Finance to facilitate Foreign Direct Investment (FDI) in the country.

What is FIFP application?

The Foreign Investment Facilitation Portal (FIFP) is the new online single point interface of the Government of India for investors to facilitate Foreign Direct Investment. This portal is being administered by the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce & Industry.

Who gives approval for FDI?

The Foreign Investment Promotion Board (FIPB), housed in the Department of Economic Affairs, Ministry of Finance, is an inter-ministerial body, responsible for processing of FDI proposals and making recommendations for Government approval.

What is the role of FIPB?

The main function of FIPB is to review the execution and usage of funds raised through the Foreign direct investment. To make sure the process of raising FDI is quicker and approvals don’t get delayed in any manner. It acts as a communicator between the government, non-government, industry, and agency bodies.

What is FDI approval?

Under the FDI Approval route, prior approval is required from the Government of India before making an investment. Proposals for foreign investments through the approval route or the Government route are considered by the respective Administrative Ministry or Department.

What is FDI limit?

Under SEBI regulations, foreign investment in securities market infrastructure companies, including stock exchanges, depositories, and clearing corporations, is permitted up to 49% of the paid-up capital. The FII component cannot exceed 23% and the FDI component cannot exceed 26% of the permissible 49%.

Who abolished FIPB?

The Foreign Investment Promotion Board (FIPB) was housed in the Department of Economic Affairs, Ministry of Finance. FIPB was abolished on 24 May 2017, as announced by Finance Minister Arun Jaitley during 2017-2018 budget speech in Lok Sabha.

In which sectors FDI is not allowed?

The present policy prohibits FDI in the following sectors: Gambling and Betting. Lottery business (including government/ private lottery, online lotteries etc) Activities /sectors not open to private sector investment (eg, atomic energy /railways)

What is INVI form in RBI?

(i) INVI Form – An Investment vehicle which has issued its units to a person resident outside India should file INVI Form, within 30 days from the date of issuance of units.

Who regulates FDI in India?

The FDI policy is governed in India by the industrial policy and promotion department. In India, some prohibited or permitted sectors in India. Under this new regime, there were two ways in which foreign investors invested in India.

What is Foreign Investment Promotion Board (FIPB)?

The Foreign Investment Promotion Board (FIPB) was a national agency under the Government of India that offered a single-window clearance for FDI applications which did not come under the automatic route. It was under the Ministry of Finance and the Finance Minister was in charge of the FIPB.

What is the role of FIPB in FDI approval?

Before it was abolished, the FIPB was the most important body for FDI approvals as it could consider applications below Rs.3000 crore. Above this amount, the Cabinet Committee on Economic Affairs considered the application for FDI.

What is foreign investment facilitation portal (fifp)?

The Foreign Investment Facilitation Portal (FIFP) is the new online single point interface of the Government of India for investors to facilitate Foreign Direct Investment. This portal is being administered by the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce & Industry.

What is FIPB and why was It abolished?

In May 2017, the Union Government decided to phase out the FIPB and it was abolished as announced by the Union Finance Minister Mr Arun Jaitley in the 2017-18 budget speech in the Parliament. Before it was abolished, the FIPB was the most important body for FDI approvals as it could consider applications below Rs.3000 crore.