Approval by FIPB

Approvals

The recommendations of FIPB in respect of the project-proposals each involving a total investment of Rs.600 crores or less would be considered and approved by the Industry Minister.

The recommendations in respect of the projects each with a total investment of above Rs 600 crores would be submitted to the Cabinet Committee on Foreign Investment (CCFI) for decision. The CCFI would also consider the proposals which may be referred to it or which have been rejected by the Industry Minister.

The approval letters in all cases will be issued by the Secretariat of FIPB. The FIPB has accorded approval to the investments of a large number of corporations such as McDonalds, General Electric, Coca-Cola and Fujitsu in the recent past. It normally processes applications within 6 weeks.