A Non-Resident Indian wants to get approval under Government route for FDI in ‘Single Brand’ product retailing in India. Which among the following would be the appropriate agency to approach for this application ?
Regional Office of Reserve Bank of India
Head Office of Reserve Bank of India
Department of Economic Affairs
Department of Industrial Policy and Promotion
Answer is Right!
Answer is Wrong!
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UPSC Combined Section Officer – 2024
In India, the Department for Promotion of Industry and Internal Trade (DPIIT), which was formerly known as the Department of Industrial Policy and Promotion (DIPP), under the Ministry of Commerce and Industry, is the nodal department responsible for formulating and implementing the FDI policy. Applications for FDI under the government approval route, including for ‘Single Brand’ product retailing beyond the automatic route limits, are processed through the Foreign Investment Facilitation Portal (FIFP), which is managed by DPIIT.