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FIFP refers to the Foreign Facilitation Portal launched by the Government of India for investors. The portal is managed by the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce & Industry. It facilitates investors in Foreign Direct Investment (FDI). FIFP approval is required for companies that aren’t eligible for automatic approval.
Foreign direct investments (FDI) are investments which a company makes into another company that is located in another country. In most cases, FDI takes place when investors establish foreign business operations or take hold of foreign business assets. FDI has substantial influence when it comes to decision-making of a foreign business. Earlier, the FDI approval’s applications falling under the Government Approval Route used to get processed by Foreign Investment Promotion Board (FIPB) after which they had to go through different ministries and departments for approval. This entire process would require plenty of time. This is why FIFP was introduced - for facilitating speedy application process.
There are 11 sectors which need approval for investments from international companies. They are the following:
S. No. |
Type of Sector |
Ministry/Department |
1 |
Mining |
Ministry of Mines |
2 |
Civil Aviation |
Ministry of Civil Aviation |
3 |
Broadcasting |
Ministry of Home Affairs |
4 |
Print Media |
Ministry of Information and Broadcasting |
5 |
Defence |
Department of Defence Production, Ministry of Defence |
6 |
Private Security Agencies |
Ministry of Home Affairs |
7 |
Satellites |
Department of Space |
8 |
Telecommunication |
Department of Telecommunications |
9 |
Trading (Single, Multi brand and Food Product Retail Trading) |
Department of Industrial Policy and Promotion, Department of Economic Affairs |
10 |
Pharmaceuticals |
Department of Pharmaceuticals |
11 |
Banking (Public and Private) |
Department of Financial Services |
The objectives of FIFP are mentioned below:
The following documents are required for FIFP Approval:
Read the steps mentioned below to know how to get FIFP approval:
Foreign Facilitation Portal (FIFP) was launched by GOI for facilitating the investors in the Foreign Direct Investment. The portal is managed by the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce & Industry. It facilitates investors in Foreign Direct Investment (FDI). Earlier, the FDI approval’s applications falling under the Government Approval Route used to get processed by Foreign Investment Promotion Board (FIPB) after which they had to go through different ministries and departments for approval. This entire process would require a good amount of time. FIFP approval has made things quick and easy for the investors now! If you need assistance in FIFP approval of telecom, connecting with Registrationwala will be your best bet! Our team comes with years of experience and can help you to obtain FIFP approval in a speedy manner.
Q1. What is FIFP?
A. FIFP refers to the Foreign Facilitation Portal launched by the Government of India for investors. The portal is managed by the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce & Industry.
Q2. What do you mean by FDI?
A. Foreign direct investments (FDI) are investments made by a company into another company that is located abroad. FDI usually takes place when investors establish foreign business operations or take hold of foreign business assets. FDI has substantial influence when it comes to decision-making of a foreign business.
Q3. What are the objectives of FIFP?
A. The objectives of FIFP are (i) to boost FDI investments (ii) to ensure departmental transparency during the approval process (iii) to boost the investment process by promoting it to domestic and foreign businesses as well as Non-Resident Indians (NRIs) (iv) To digitize the process of approval and communication and (v) to notify investors of any changes to the FDI policy.
Hey there, I'm Dushyant Sharma. With the extensive knowledge I've gained in past 8 years, I have been creating content on various subjects such as banking, insurance, telecom, and all the important registration and licensing processes for various companies. I'm here to help everyone with my expertise in these areas through my articles.