You are here: Home » PTI Stories » National » News
Business Standard

99 FDI proposals pending in various ministries: Nirmala

Press Trust of India  |  New Delhi 

As many as 99 foreign direct investment (FDI) proposals were pending in various ministries and departments, Parliament was informed today.

In a written reply to Rajya Sabha, Commerce and Industry Minister Nirmala Sitharaman said the work of granting approval for foreign investment in eleven notified sectors/activities under FDI policy has now been entrusted to the concerned administrative ministries or departments.

"A total of 99 FDI proposals were pending in various ministries/ departments," she said adding 48 such proposals were awaiting approval in the Department of Industrial Policy and Promotion (DIPP).

Similarly, foreign investment applications are pending in department of economic affairs (13), department of pharmaceuticals (14), department of telecommunications (8) and Ministry of Home Affairs (5).

She said a standard operating procedure for processing FDI proposals has already been issued by the ministry in June.

FDI into the country grew 9 per cent to USD 43.47 billion in 2016-17.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Wed, August 09 2017. 16:48 IST
RECOMMENDED FOR YOU