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    Question

    Department for Promotion of Industry and Internal Trade

    (DPIIT) comes under which of the following ministry:
    A Ministry of Economics Correct Answer Incorrect Answer
    B Ministry of Foreign Affairs Correct Answer Incorrect Answer
    C Ministry of Telecommunication Correct Answer Incorrect Answer
    D Ministry of Commerce and Industry Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    DPIIT is under the Ministry of Commerce and Industry. As many as 853 foreign direct investment proposals have been disposed of through the Foreign Investment Facilitation Portal (FIFP) in the last five years. The Foreign Investment Facilitation Portal (FIFP) was developed after the abolition of Foreign Investment Promotion Board (FIPB) in May 2017. After the abolition of FIPB, granting of government approval for overseas investment under the FDI (Foreign Direct Investment) policy and FEMA (Foreign Exchange Management Act) regulations was entrusted to the concerned ministries/departments. The Department for Promotion of Industry and Internal Trade (DPIIT) was made the nodal department.

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