6th edition of consolidated FDI policy by March end
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6th edition of consolidated FDI policy by March end

Last Updated: Sunday, January 20, 2013, 18:49
 
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6th edition of consolidated FDI policy by March end
New Delhi: The sixth edition of the consolidated FDI policy will be released by the Department of Industrial Policy and Promotion (DIPP) on March 31 which will incorporate all the changes made in the regulations over the past one year.

"The next edition of the Consolidated FDI Policy Circular ... Is scheduled to be issued on March 31, 2013, and will be effective from April 1," the Department of Industrial Policy and Promotion (DIPP) said.

The DIPP is the nodal agency on FDI related matters. With a view to make India's FDI regime simple and easy to understand for investors, the department had compiled all the related policies into a single document.

The DIPP has invited public comments on the document by tomorrow.

Foreign direct investment (FDI) is considered crucial for economic development of a country and India has taken several steps to attract such funds.

The government has allowed FDI in multi-brand retail, power exchanges and hiked FDI cap in single brand retail and broadcasting.

In the first 10 months of current financial year, foreign direct investment (FDI) contracted by 33 percent to USD 21 billion as against USD 31 billion in the same period last year due to the global economic uncertainties.

PTI



First Published: Sunday, January 20, 2013, 18:49


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