Government specifies 12-week limit to process FDI applications under new rules

In a bid to expedite and bring transparency to foreign direct investments (FDI) coming into the country, the Ministry of Commerce has issued an updated Standard Operating Procedure (SOP) document laying out the timeline and guidelines for processing investment applications by foreign companies. 

Apart from specifying heightened scrutiny by mandating approvals from the Ministry of Home Affairs on investments in sensitive sectors and from particular countries, the document also sets a maximum limit of 12 weeks for the processing of applications. Large investments would first have to be cleared by the Cabinet Committee on Economic Affairs.