SME Times News Bureau | 31 Mar, 2010
The government will today come out with an "investor friendly" single, simplified document on foreign direct investment.

The document consolidating all the aspects of FDI policy and framework will be released by Commerce and Industry Minister Anand Sharma, an official said.

At present, all guidelines related to foreign direct investment (FDI) are spread over 177 Press Notes of the Department of Industrial Policy and Promotion (DIPP), the nodal agency for FDI-related issues.

The new, simplified document will subsume all the 177 Press Notes. However, DIPP has made it clear that the exercise is not intended to make changes in the existing policy.

From the next fiscal beginning 1st April, every six months the procedural rules would be subject to review.

"We are particularly keen to rationalise and simplify procedures so as to create an investor-friendly environment," Sharma had said while releasing the draft document.

DIPP had also invited public comments before finalising the document.

The FDI inflows during April-January 2009-10 declined by about 4 per cent to USD 22.96 billion from USD 23.86 billion in the corresponding period last year.