India to review FDI rules every 6 months: Anand Sharma

Last Updated: Thursday, December 24, 2009 - 20:55

New Delhi: Releasing a compendium of all FDI
-related 177 press notes for comments from public, the
government today said it would review its foreign direct
investment rules twice a year from the next fiscal.

The Department of Industrial Policy and Promotion (DIPP),
the nodal agency for FDI, has invited comments on the
compendium from stakeholders till January 31. The government
would incorporate the feasible suggestions into the compact
document to be unveiled in April.

From the next fiscal, every six months the procedural
rules would be subject to review.

However, the department made it clear that the exercise
is "not intended to make changes" in the existing policy.

Commerce and Industry Minister Anand Sharma also said that
review did not mean the government would change the policy
every six months.

"A new press note on regulatory framework would be issued
every six months which will incorporate and reflect all the
changes in the regulations ...Thus the government will issue
press note on FDI regulatory framework twice a year in April
and October which would be valid on that date," Sharma said.

The FDI inflows during April-November were USD 19.38
billion, marginally lower than USD 19.79 billion in the year
ago period.

PTI



First Published: Thursday, December 24, 2009 - 20:55

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