With effect from June 18, 2015, the levels of approval of cases under the government approval route under the Consolidated Foreign Direct Investment Policy, 2015 (FDI Policy) will be changed and the revised position will be as follows:
- The Minister of Finance (MOF) who is in charge of FIPB would consider the recommendations of FIPB on proposal with total foreign equity inflow upto INR 3000 crore (i.e. INR 30 Billion);
- The recommendation of FIPB on proposals with total foreign equity inflow of more than INR 3000 crore (i.e. INR 30 Billion) would be placed for consideration of CCEA;
- The CCEA would also consider the proposals which may referred to it by the FIPB/MOF(in charge if FIPB);
- The FIPB Secretariat in Department of Economic Affairs will process the recommendation of FIPB to obtain approval of MOF and CCEA.