SME Times News Bureau | 18 Feb, 2015
The Finance Ministry Tuesday launched an upgraded and secure
user-friendly website for filing and processing of applications for
foreign direct investment (FDI) requiring government approval.
"With
the introduction of the new website (fipb.gov.in), applicant will have
to submit only single copy of the application for records with the FIPB
(Foreign Investment Promotion Board) secretariat instead of 15-18 copies
being filed earlier," the ministry said in a statement.
According
to the ministry, the initiative is part of governmentâs ongoing efforts
for good governance by enhancing transparency and accountability in its
procedures.
The statement added that the website sports
innovative features such as global reach, less paperwork and quick
response time through sms and email alert.
