May 29, 2017 1:06 PM

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More than 90 percent of FDI comes from automatic route: DIPP Secy Ramesh Abhishek

The Secretary of the Department of Industrial policy and planning Ramesh Abhishek has said that the Government was working with the states on the ease of doing business. Speaking to AIR, Mr.Abhishek said that the Government has opened FDI in all the sectors for foreign investment by simplifying procedures. <br/><br/>He said, more than 90 percent of FDI comes from the automatic route and no approval is required as the Government has abolished the Foreign investment promotion board for simplifying things. <br/><br/>The Secretary told that the Centre had introduced a unique initiative of ranking the states on 340 points action plan. He said, this unique initiative has led to 7000 reforms done by the States last year as more than 17 states have now a single window system of clearance under the right to service act. He said, India's initiative was appreciated by the World Bank and countries like Brazil wanted to study the system.

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