Review of the investment limit for cases requiring prior approval of the Foreign Investment Promotion Board (FIPB)/ Cabinet Committee on Economic Affairs (CCEA) - FEMA - Press Note No. 6 (2015 Series)

Government of India Ministry of Commerce Industry Department of Industrial Policy Promotion Press Note No. 6 (2015 Series) Subject: Review of the investment limit for cases requiring prior approval of the Foreign Investment Promotion Board (FIPB)/ Cabinet Committee on Economic Affairs (CCEA) 1.0 Present Position : 1.1 Paragraph 5.2 of 'Consolidated FDI Policy Circular of 2015', effective from May 12, 2015, relating to levels of approvals for cases under Government route, presently reads as below: 5.2 Levels of Approvals for Cases under Government Route 5.2.1 The Minister of Finance who is in-charge of FIPB would consider the recommendations of FIPB on proposals with total foreign equity inflow of and below ₹ 2000 crore. 5.2.2 The recommendations of FIPB on proposals with total foreign equity inflow of more than ₹ 2000 crore would be placed for consideration of Cabinet Committee on Economic Affairs (CCEA). 5.2.3 The CCEA would also consider the proposals which may be referred to it by the FIPB/the Minister of Finance (in-charge of FIPB). 2.0 Revised Position : 2.1 The Government of India has reviewed the position in this regard and decided to revise the investment limit for cases requiring prior approval of the Foreign Investment Promotion Board (FIPB)/ Cabinet Committee on Economic Affairs (CCEA). 3. 0 Amendment to paragraph 5.2: 3.1 Accordingly, Para 5.2 of 'Consolidated FDI Policy Circular of 2015' , effective from May 12, 2015, is amended, as below: 5.2 Levels of Approvals for Cases under Government Route 5.2.1 The Minister of Finance who is in-charge of FIPB would consider the recommendations of FIPB on proposals with total foreign equity inflow up to ₹ 3000 crore. 5.2.2 The recommendations of FIPB on proposals with total foreign equity inflow of more than ₹ 3000 crore would be placed for consideration of Cabinet Committee on Economic Affairs (CCEA). 5.2.3 The CCEA would also consider the proposals which may be referred to it by the FIPB/the Minister of Finance (in-charge of FIPB). 5.2.4 The FIPB Secretariat in Department of Economic Affairs will process the recommendations of FIPB to obtain the approval of Minister of Finance and CCEA. 4.0 The above decision will take immediate from 18.06.2015. (Atul Chaturvedi) Joint Secretary to the Government of India D/o IPP File No.: No. 5/5/2015-FC-I dated: 3rd June, 2015