F D I & FIPB APPROVALS
The Foreign Investment Promotion Board (FIPB) offers a single window clearance for applications on Foreign Direct Investment (FDI) in India that are under the approval route. The sectors under automatic route do not require any prior approval from FIPB and are subject to only sectoral laws.
FDI in sectors/activities to the extent permitted under automatic route does not require any prior approval either by the Government or RBI. The investors are only required to notify the Regional office concerned of RBI within 30 days of receipt of inward remittances and file the required documents with that office within 30 days of issue of shares to foreign investors.
List of activities or items for which automatic route for foreign investment is not available, include the following:
⇒ Banking
⇒ NBFC's Activities in Financial Services Sector
⇒ Civil Aviation
⇒ Petroleum Including Exploration/Refinery/Marketing
⇒ Housing & Real Estate Development Sector for Investment from Persons other than NRIs/OCBs.
⇒ Venture Capital Fund and Venture Capital Company
⇒ Investing Companies in Infrastructure & Service Sector
⇒ Atomic Energy & Related Projects
⇒ Defense and Strategic Industries
⇒ Agriculture (Including Plantation)
⇒ Print Media
⇒ Broadcasting
⇒ Postal Services