The sixth edition of the consolidated FDI policy will be released by the Department of Industrial Policy and Promotion (DIPP) this week which will incorporate the changes made in the regulations over the past one year,an official has 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.
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 per cent to USD 21 billion against USD 31 billion in the same period last year due to the global economic uncertainties.