This is part of a new national policy drawn up by the Home Ministry to fast-track the security clearance process within 4-6 weeks as part of the Prime Minister's ease of business mantra.
India will not allow any investment from Pakistan while foreign companies ready to invest in India will have to appoint Indians in key technical posts like chief technical officer and chief security officer as this will ensure the integrity of the technical systems.
All agreements with foreign companies coming with investments under FIPB route will have a 'National Security Clause' specifying that any adverse information regarding the same at a later stage would lead to the termination of the contract, official sources said.
The pact with the foreign company can be terminated after proper notice in case the company is found to be indulging in money laundering, links with foreign intelligence agencies or terror links, they said.
The Home Ministry has also asked Department of Telecommunications to set up state-of-the-art testing labs within one year to test equipments of foreign countries in all networking system, including telecom.
Government agencies estimate that about 65 per cent of telecom equipment installed in India is of Chinese origin. Given the dangers such as embedded malware and bugs in Chinese equipment, India will be setting up the testing facilities to screen all such telecom equipment.
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