DPIIT writes to 17 departments, seeking faster clearance to pending FDI proposals

Of these 46 proposals, 27 have also received comments from the Ministry of Home Affairs regarding security clearance.

The Department for Promotion of Industry and Internal Trade (DPIIT) has urged 17 government departments to speed up decision-making on foreign direct investment (FDI) proposals awaiting clearance, according to a Business Standard report on April 17.

Around 46 FDI proposals have crossed the government-mandated 12-week time limit for grant of approval, the report said, quoting a person familiar with the matter.

Out of these 46 proposals, 27 have also received comments from the Ministry of Home Affairs regarding security clearance. The decision is now pending with the respective government departments.

In the letter, DPIIT pointed out that the government departments often do not adhere to the timeline, in keeping with the standard operating procedure for processing FDI proposals, the person told Business Standard.

The department sought immediate intervention from the relevant government departments, including the Ministry of Finance's Department of Economic Affairs (DEA), to ensure a time-bound green light for the pending proposals.

A spokesperson for DPIIT told the daily that the department oversees FDI applications received on the Foreign Investment Facilitation Portal through the National Single Window System portal and forwards them to the administrative ministry concerned for decision.