Only 29 FDI proposals pending for approval as of today: DPIIT secretary

Foreign direct investment (FDI) proposals are being cleared and as of today only 29 applications are pending, a top government official said on Thursday.

Department for Promotion of Industry and Internal Trade (DPIIT) secretary Anurag Jain also said those FDI proposals which deserve proper consideration under Press Note 3 (PN3) will be facilitated.

Under that press note, the government had made its prior approval mandatory for foreign investments from countries that share land borders with India to curb opportunistic takeovers of domestic firms following the COVID-19 pandemic.