“We have put this document for discussions with all stakeholders to invite their comment which is expected to close by January 31. By March 31, we will have a single FDI document to ensure simplification, easy comprehension and predictability,” Sharma told reporters at the Bancon conference here.
The proposed policy will come in the form of a single consolidated press note, which will specify the sectoral caps and also the way foreign investments would be treated. This would make the FDI process more investor friendly. The new format will subsume all 177 press notes (guidelines issued by the industry ministry). At present, the document is under discussion among the stakeholders, and is expected to close by this month-end, he said.
The consolidation of the FDI policy framework is expected to make it more comprehensible to all investors and stakeholders. Besides, the government plans to review the FDI rules in every six months.
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