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99 FDI proposals pending in various ministries: Nirmala

 A standard operating procedure for processing FDI proposals was issued by the ministry in June.

99 FDI proposals pending in various ministries: Nirmala

(PHOTO: Facebook)

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

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).

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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.

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