Anand Sharma releases first draft consolidation of FDI Policy/ FDI Framework

New Delhi, Dec 24 (ANI): Commerce and Industry Minister Anand Sharma released the first draft consolidation of all the aspects of FDI Policy and FDI Framework, here today.

Briefing the media on the occasion, Sharma said such consolidation would ensure the availability of all information on FDI policy at one place, and is expected to lead to: simplification of the policy; greater clarity of understanding of foreign investment rules among foreign investors and sectoral regulators, as also predictability of policy and added that having a single policy platform would also ease the regulatory burden for Government.

He further stated that the document would be open for comments until the 31st of January, 2010 and all comments received until that date will be considered before the final document is prepared.

"As far as FDI policy is concerned, it has been felt, through interaction with various investors, counterpart government organizations and other stakeholders, that there is a need for further simplification and consolidation of the FDI policy framework, so as to make it more comprehensible to all investors and stakeholders", he said.

Sharma also highlighted about India's share of world FDI which jumped from 0.78 per cent in 2005 to 2.45 per cent in 2008.

Quoting the World Investment Report 2009, he said that the top five most attractive locations for FDI for 2009-11 are China, United States, India, Brazil and the Russian Federation. The 2009 survey of the Japan Bank for International Cooperation, conducted among Japanese investors, continues to rank India as the second most promising country for overseas business operations, after China. (ANI)