New Delhi, April 19 -- The Department for Promotion of Industry and Internal Trade (DPIIT) has called on 17 government departments to expedite decision-making on nearly 50 Foreign Direct Investment (FDI) proposals that have exceeded the mandated 12-week approval timeline.
Around 46 FDI applications have crossed the government's prescribed limit without receiving clearance, reported BS, citing sources.
Of those, 27 proposals have undergone security vetting by the Ministry of Home Affairs but still await a final decision from the respective administrative ministries.
In a letter to the departments, the DPIIT emphasised the need to adhere to standard operating procedures and timelines for processing FDI proposals. The department specific...