In a welcome sign, 98 per cent of foreign direct investment FDI is now coming into India through the automatic route. Informing this, Economic Affairs Secretary Shaktikanta Das on Saturday tweeted, the number of applications being routed via the Foreign Investment Promotion Board (or FIPB) approval route has started declining.
This is a positive sign as we move towards the greater ease of doing business, said the official. He asserted that the government is also making efforts to provide enabling environment for raising the domestic investment.
FDI into the country increased by 40 per cent to 29.44 billion dollars during April to December of last year.
