Security concerns on FDI being addressed: Ashwani Kumar

New Delhi, Mar 6 (UNI) The Government today said proposals which required prior government approval for foreign direct investment (FDI) were considered by the Foreign Investment Promotion Board (FIPB), an inter-ministerial body, which took into account all factors including security matters.

"All aspects of national security are of paramount concern of the government, and all concerns of national security sensitivity are being constantly addressed suitably," Minister of State for Industry Ashwani Kumar said today in the Lok Sabha.

He said the Government had allowed a liberal FDI policy under which FDI is permitted on the automatic route in most sectors or activities where no prior government approval was required.

The Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations 2000, incorporating the FDI policy, indicated the countries where investment was not permitted, he said.

UNI