What is the Full Form of FIPB?

The full form of FIPB is the Foreign Investment Promotion Board. FIPB is a government agency that controls and manages foreign direct investment (FDI) proposals in various sectors of the Indian economy. The agency facilitates FDI of up to 1200 crore which ensures transparent and efficient processes from filing to fund utilization. Until May 24, 2017, the FIPB was a body within the Department of Economic Affairs, Ministry of Finance.

Roles of FIPB

1. The FIPB grants project applications under foreign direct investment a single-window approval.
2. The FIPB serves as the government’s delegate for controlling FDI inflows into the country’s sectors.
3. The Foreign Investment Promotion Board is made up of members and secretaries from various ministries who carefully review and approve FDI project proposals.
4. To assess and permit FDI, the FIPB committee reviews bids worth up to 1200 crores.
5. A project above Rs 1200 crore requires permission from the Ministry of Economic Affairs (Cabinet Committee on Economic Affairs CCEA).

Functions of FIPB

• The FIPB’s primary purpose is to oversee the implementation and use of monies raised through foreign direct investment.
• To ensure that the process of attracting FDI is expedited and that approvals are not delayed.
• It facilitates communication among government, non-government, business, and agency groups.
• It also serves to bridge the communication gap between the FIPB and the FIPC (Foreign Investment Promotion Council).
• To conduct research in each area to identify the sector’s requirement and the range of FDI required.
• To conduct larger-scale initiatives to raise awareness and make FDI more appealing to investors.
• To preserve transparency and efficiency in attracting FDI within the country.

Must Read: What is the Full Form of TTC?

This was about FIPB. For more abbreviations like this, you can check out our 300+ full-form list!