Functions of FIPB

The main functions of the Board will be as follows:
a) to ensure expeditious clearance of the proposals for foreign investment;

b) to review periodically the implementation of the proposals cleared by the Board;

c) to review, on a continuous basis, the general and sectoral policy regimes relating to FDI and in consultation with the Administrative Ministries and other concerned agencies, evolve a set of transparent guidelines for facilitating foreign investment in various sectors;

d) to undertake investment promotion activities including establishment of contact with and inviting selected international companies to invest in India in the appropriate projects;

e) to interact with the Industry Association/Bodies and other concerned government and non-government agencies on relevant issues in order to facilitate increased inflow of FDI;

f) to identify sectors into which investment may be sought keeping in view the national priorities and also the specific regions of the world from which investment may be invited through special efforts;

g) to interact with the Foreign Investment Promotion Council (FIPC) being constituted seperately in the Ministry of Industry; and

h) to undertake all other activities for promoting and facilitating foreign direct investment, as considered necessary from time to time. The Board will submit its recommendations to the Government for suitable action.