Single window for foreign investors

The government is considering the option of shifting the Foreign Investment Promotion Board (FIPB) and the Foreign Investment Implementation Authority (FIIA) under the ambit of the proposed Investment Commission.

A senior government official told Business Standard that the option was being included in the proposal for the Union Cabinet, being prepared by the Department of Industrial Policy and Promotion.

"The government wants to provide a single window for investors. This is one of the options being examined," the official said.

The draft note had not made any recommendations on who should head the commission, however, Finance Minister P Chidambaram had in his Budget said the commission would be headed by an eminent person.

The finance minister had also said the commission would "engage, discuss with, and invest domestic and foreign businesses to invest in India".

He had in the Budget also stated that the role of the FIBP could be changed to being a one-stop centre and facilitator.