Context: In the last five years, 853 FDI proposals have been disposed off through the Foreign Investment Facilitation Portal (FIF) since abolishment of Foreign Investment Promotion Board (FIPB). 

Foreign Investment Promotion Board (FIPB)

• The Indian government has set up FIPB.
• It is the only agency in the country that deals with foreign direct investments and investments into India.
• Aim: To encourage foreign direct investment into the country by taking up activities that promote investment.
• FIPB is to operate as an effective, and transparent single window board for approving proposals for investment in India.
• The chairman of FIPB is the Secretary Industry of the Department of Industrial Promotion and Policy, government of India.

Functions of FIPB

• To quickly approve the foreign investment proposals.
• To review the foreign direct investment policies.
• To communicate with administrative ministries in order to set up guidelines which encourage FDI into the various sectors of the country.
• To look over the implementation of the various proposals that have been approved by it.
• To take up activities that encourage FDI into the country.
• Establishing contact with international companies and also inviting them to invest in India.
• To communicate with government, non- government and industry bodies in order to increase the flow of foreign direct investment into the country.
• To communicate with the Foreign Investment Promotion Council that has been set up in the Industry Ministry.
• To identify the various sectors that require foreign direct investment.