India to review FDI rules every six months: Anand Sharma

NEW DELHI: Releasing a compendium of all FDI-related 177 press notes for comments from public, the government today said it would review its foreign direct investment rules twice a year from the next fiscal.

The Department of Industrial Policy and Promotion (DIPP), the nodal agency for FDI, has invited comments on the compendium from stakeholders till January 31. The government would incorporate the feasible suggestions into the compact document to be unveiled in April.

From the next fiscal, every six months the procedural rules would be subject to review.

However, the department made it clear that the exercise is "not intended to make changes" in the existing policy. Commerce and Industry Minister Anand Sharma also said that review did not mean the government would change the policy every six months.

"A new press note on regulatory framework would be issued every six months which will incorporate and reflect all the changes in the regulations ...Thus the government will issue press note on FDI regulatory framework twice a year in April and October which would be valid on that date," Sharma said.

The FDI inflows during April-November were USD 19.38 billion, marginally lower than USD 19.79 billion in the year ago period.