Recommendations of FIPB are given with respect to the proposals for foreign direct investment into India. The Cabinet Committee on Foreign Investment (CCFI) as well as the Industry Minister of the Indian government receives the Recommendations of FIPB.
Establishment of Foreign Investment Promotion Board (FIPB):
The Foreign Investment Promotion Board (FIPB) is set up by the central government. FIPB is the only agency in the country that deals with the matters of foreign direct investment and it also encourages the coming of more investments into India.
The main objective of Foreign Investment Promotion Board is to encourage foreign direct investment into the country by taking up activities that promote investment. The foreign direct investment comes into India through non- resident Indians, international companies, and various other investors. The chairman of Foreign Investment Promotion Board (FIPB) is the Industry Secretary of the Department of Industrial Promotion and Policy, Indian government.
Various Recommendations of Foreign Investment Promotion Board (FIPB):
Recommendations of FIPB are given with respect to the proposals of projects for foreign direct investment into the country. The FIPB gives recommendations to the Industry Minister of the Indian government when the total amount of investment by a project is of Rs. 600 crores or less. Foreign Investment Promotion Board also gives its recommendations to the Cabinet Committee on Foreign Investment (CCFI) when the total amount of investment by a project is over Rs. 600 crores. FIPB's Secretariat issues these letters of approval.
Projects approved by Foreign Investment Promotion Board (FIPB):
- Coca- Cola
- General Electric
- Fujitsu
- McDonalds
Indian government must boost Foreign Investment Promotion Board (FIPB):
The government of India must take such steps that boost Foreign Investment Promotion Board (FIPB), for this will help in bringing in more foreign direct investment into the country. This in turn will lead to the growth of the Indian economy.
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