DIPP to steer new avatar of the abolished FIPB

FIPB portal comes under DIPP, which would forward FDI applications to relevant ministries

While the erstwhile Foreign Investment and Promotion Board (FIPB) has been abolished, the Department of Industrial Policy and Promotion (DIPP) under the Commerce ministry will be incharge of its successor mechanism.This includes the old FIPB portal that has now been placed under the DIPP under a new name - the Foreign Investment Facilitation Portal, DIPP secretary Ramesh Abhishek said onThursday.

The portal is the main interface used by investors to apply for bringing in FDI into the country. The Cabinet had last month approved the abolition of FIPB, which was the authority clearing foreign direct investment (FDI) proposals for