Question
Department for Promotion of Industry and Internal Trade
(DPIIT) comes under which of the following ministry: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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