Ministry of Commerce & Industry vide press release dated 24 March, 2023 has announced the National Single Window System (NSWS) Portal used for all proposals seeking Government approval under FDI route. To simplify the approval process of foreign Investment and to promote ease of doing business, the erstwhile Foreign Investment Promotion Board (FIPB) has been abolished in May 2017 and a new regime has been put in place.
Under the new regime, process for granting FDI approvals has been simplified wherein the work relating to processing of applications for FDI has been delegated to the concerned Ministries/ Departments and DPIIT is the nodal department for facilitating the process. Detailed standard operating procedure for approval process has been issued by DPIIT. Further, all proposals seeking Government approval under FDI route are now filed on National Single Window System (NSWS) Portal.
