Apr 06, 2013, 02.07 PM IST
The Department of Industrial Policy and Promotion (DIPP) today released the latest edition of consolidated FDI policy incorporating the changes made in the regulations over the past one year.
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.
This is the sixth edition of consolidated FDI policy and will be effective from April 5. India has taken several steps to attract Foreign direct investment (FDI, which is considered crucial for economic development of a country.
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 percent to USD 21 billion against USD 31 billion in the same period last year due to the global economic uncertainties.
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