On 17-02-2015, the Department of Economic Affairs, Ministry of Finance launched a new upgraded and secured user friendly website i.e., http://fipb.gov.in for filing and processing of applications for Foreign Direct Investment (FDI) requiring Government approval. The object behind the launching of a new website is to enhance transparency and accountability in its procedures to achieve Minimum Government and Maximum Governance. Earlier, applications were filed online at www.fipbindia.com which had limited features and processing capabilities. The innovative features of the new website are as follows:
- Global reach– the interested investors can apply from anywhere in the world.
- E-communication– online communication between the applicants, FIPB and other ministries/departments.
- Quicker communication– communication of all correspondence including updates/ decisions through SMS/emails instead of physical delivery, which saves loss of time due to postal delays.
- Less Paperwork– 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.
- Transparency and security– all transactions and correspondence are recorded online and are secure.
- Query module- regular alert are sent to the applicants related to the queries raised by the administrative ministries etc, and even user can raise a query online which shall be replied by the relevant ministry.
-Ministry of Finance
