DIPP denies Cabinet note on FDI policy

Written by feBureau | New Delhi | Updated: Apr 27 2013, 07:42am hrs
The Department of Industrial Policy and Promotion (DIPP) will take a call on the composite foreign direct investment (FDI) policy after it does high-level consultations with other ministries concerned.

There is no move on the part of DIPP to circulate a Cabinet note on changes in FDI policy at this juncture. On most major issues of FDI policy in the recent past, DIPP has followed a practice of inclusive policy formulation starting with a discussion paper being floated on the relevant issue raising questions and seeking comments from stakeholders thereupon, said an official in the department.

Commerce and industry minister Anand Sharma will take up this issue with the Prime Minister, finance minister and the defence minister. The discussion paper is followed up generally by several rounds of consultations with stakeholders.

A similar process will be adopted for any future changes in FDI policy, if required. A composite view on FDI issues in various sector including in defence can only be taken after high level consultation, taking in the views of all stakeholder on a discussion paper and after the input from the relevant ministries and departments, the official added.