The matters related to Foreign Direct Investment are looked upon by a specialized constituted board-Foreign Investment Promotion Board of India.
This board aims to create a base in the country by which a larger volume of investment can be drawn to the country. The board became the part of Ministry of Finance, Department of Economic Affairs (DEA) from 18 February 2003.
The Board:
- Formulates proposals for the promotion of investment.
- Take measures to implement the proposals.
- Setting investor friendly guidelines to attract more investors.
- Invites more companies to make investments.
- To make recommendations to the Government to take necessary actions for attracting more investment.
Foreign Investment Promotion Board comprises Secretary to Government Department of Economic Affairs, Ministry of Finance- Chairman, Secretary to Government Department of Industrial Policy and Promotion, Ministry of commerce and Industry, Secretary to Government, Department of Commerce, Ministry of Commerce and Industry, Secretary to Government, Economic Relations, Ministry of External Affairs, and Secretary to Government, Ministry of Overseas Indian Affairs.
