MINISTRY of Finance today launched a
new upgraded and secure user friendly web site for filing and processing of applications
for Foreign Direct Investment (FD) requiring Government approval. Presently the
applications are filed online at www.fipbindia.com which had limited features
and processing capabilities. The new website http://fipb.gov.in, which becomes
operational from today, shall henceforth receive applications regarding FDI in
approval route sectors.
With the
introduction of the new website, applicant will have to submit only
SINGLE copy of the application for records with the FIPB Secretariat
instead of 15-18 copies being filed earlier.
The
initiative is part of the Government's ongoing efforts for Good
Governance by enhancing transparency and accountability in its
procedures and is a step towards Minimum Government and Maximum Governance. The innovative features of the website are:
- Global Reach -Apply from anywhere in the world! Access your status from anywhere in the world!
- E-communication – communication between the applicant, FIPB and other ministries/departments is online.
- Quicker communication -
All the correspondence including updates/decisions are communicated
through SMS/emails and thus eliminating physical delivery and loss of
time due to postal delays.
- Less Paperwork - Single signed copy only needed (for record) instead of present multiple sets of the application.
- SMS/email alert -
Regular alerts are sent to the applicants related to the queries raised
by the administrative ministries, inclusion of the proposal in the
scheduled FIPB meeting and decisions.
- Transparency and security- all transactions and correspondences are recorded online and are secure.
- Query module - Any doubts? A user can raise a query online which shall be replied by the relevant ministry.
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