Member of Parliament Kartikeya Sharma on Friday raised the issue regarding the steps taken by the government since June 2019 to attract foreign investors.
In a written reply to the Upper House, the Commerce and Industry Ministry indicated that FDI reforms have been happening in many industries since June 2019.
With the exception of a few sectors, the government has created an investor-friendly policy that makes the majority of industries available to 100% FDI via the automatic method. Around 98% of the FDI equity inflow for the fiscal year 2022–2023 has occurred automatically.
Foreign direct investment took place in recent time in various sectors like coal mining, contract manufacturing, single-brand retail trading, digital media, insurance, civil aviation, defence, petroleum and natural gas, and telecommunications. Further, all proposals seeking government approval under FDI routes are now filed on the National Single Window System (NSWS) portal.
“Further, investment outreach activities are done through ministries, state governments, and Indian missions abroad for enhancing international cooperation and promoting foreign investment in the country.”
Further, the FDI policy is frequently reviewed on a regular basis to make India an attractive and investor-friendly destination.
Policy changes are made following consultations with stakeholders such as apex industry chambers, associations, industry or group representatives, and other organisations.
