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Govt says will revisit FDI policy more often
New Delhi: , Dec 24, DH News Service
In a bid to promote higher inflow of foreign investment into the country the government will undertake review of Foreign Direct Investment (FDI) policy at regular interval to impart 'more clarity and predictability' to the policy regime.
“The review will be done once in every six months for further simplification and consolidation of the FDI policy so as to make it more comprehensive to all investors and stakeholders,” Commerce & Industry Minister Anand Sharma said.
“The idea behind is to make India even more attractive for FDI. The government is keen to rationalise and simplify so as to create an investor friendly environment,” he said. He was releasing the first draft consolidation of all aspects of the FDI policy and FDI framework formulated by the government from time to time.
Consolidation of policy He said consolidation would lead to simplification of policy, greater clarity of understanding of foreign investment rules along foreign investors and sectoral regulators as also predictability of policy.
“Having a single policy platform would also ease the regulatory burden for government,” Sharma said. The document released on Thursday would be open for comments until January 31, 2010 and all comments received until that date will be considered before the final document is prepared.
The final document would be released on April 1, 2010. In reply to a query Sharma said the government had no plan to allow FDI in the multi-brand in the retail sector though FDI in single brand had been allowed.
Why should the govt do this? India does not need any investment from the west as per some Indians who think that they can sustain their growth without any business flowing from the west. To them I say good on you encourage China to get all the business and let us see how fro India will grow. Any Indians for this challenge?
“The review will be done once in every six months for further simplification and consolidation of the FDI policy so as to make it more comprehensive to all investors and stakeholders,” Commerce & Industry Minister Anand Sharma said.
