The government will come out with a set of first-ever defined guidelines for the Foreign Investment Promotion Board (FIPB) next week to impart transparency and develop a systematic approach to investment proposals.
Industry minister Murasoli Maran said in an interview yesterday: "We have no guidelines now. Now we want to summarise what we have been doing in a systematic manner and bring about total transparency in FIPB's functioning."
At the same time, the minister said he was not averse to selective "fiscal protection" to the domestic industry, if it was found at a disadvantage vis-