Single window approval for FDI by March
Sovereign funds showing fresh investment interest, we must address irksome compliance issues
- A new, unified single window clearance system for foreign direct investment (FDI) proposals would be in place by March 31, 2021.
- An effective, unified, single window will be made available so that access to regulators, policymakers and facilitators are all available at one point from wherever you are and you will be able to access it digitally.
- India, in April-August 2020, received the highest ever total Foreign Direct Investment (FDI) for the first five months of a financial year.
- The total FDI inflow into India in the first five months was $35.73 billion, 13% higher than that in the same period last fiscal.
- FDI equity inflow received during FY21 (April to August, 2020) is $27.1 billion. It is also the highest ever for first five months of a finance.
- The government had seen fresh interest from large sovereign wealth funds looking to invest in the country and conceded the need to address many compliance issues that worry investors at large.
- The National Infrastructure Investment Fund has been actively engaging with them through the lockdown to see how best we can facilitate them with the benefits of the tax concessions given and the pipeline of infrastructure projects.
- Centre would continue the momentum of reforms undertaken during the pandemic, and more active reform-related steps were being taken up and feedback from global investors would be factored in.