Nirmala Sitharaman says 99 FDI proposals pending in various ministries

New Delhi: As many as 99 foreign direct investment (FDI) proposals were pending in various ministries and departments, Parliament was informed on Wednesday.

US dollars. Reuters

US dollars. Reuters

In a written reply to Rajya Sabha, Commerce and Industry Minister Nirmala Sitharaman said the work of granting approval for foreign investment in eleven notified sectors/activities under FDI policy has now been entrusted to the concerned administrative ministries or departments.

"A total of 99 FDI proposals were pending in various ministries/ departments," she said adding 48 such proposals were awaiting approval in the Department of Industrial Policy and Promotion (DIPP).

Similarly, foreign investment applications are pending in department of economic affairs (13), department of pharmaceuticals (14), department of telecommunications (8) and Ministry of Home Affairs (5).

She said a standard operating procedure for processing FDI proposals has already been issued by the ministry in June.

FDI into the country grew 9 percent to $43.47 billion in 2016-17.

Updated Date: Aug 09, 2017 18:21 PM

Also Watch

Social Media Star: Abhishek Bachchan, Varun Grover reveal how they handle selfies, trolls and broccoli
  • Monday, July 16, 2018 It's a Wrap: Soorma star Diljit Dosanjh and Hockey legend Sandeep Singh in conversation with Parul Sharma
  • Monday, July 16, 2018 Watch: Dalit man in Uttar Pradesh defies decades of prejudice by taking out baraat in Thakur-dominated Nizampur village
  • Monday, July 16, 2018 India's water crisis: After govt apathy, Odisha farmer carves out 3-km canal from hills to tackle scarcity in village
  • Sunday, July 15, 2018 Maurizio Sarri, named as new Chelsea manager, is owner Roman Abramovich's latest gamble in quest for 'perfect football'

Also See