New Delhi, Nov 22 (TIWN) The government made major changes in Foreign Direct Investment (FDI) regime with the focus on simplification of procedures and administration rather than a tweak in the investment caps.

Accordingly, the Department for Promotion of Industry and Internal Trade (DPIIT) has come out with fresh set of standard operating procedures for processing FDI proposals that makes online furnishing of investment proposals and clearance by the respective authorities mandatory and within a specified period of time.  In line with changes brought about in the functioning by the outbreak of the pandemic, digitally signed applications and documents by an applicant will be accepted without any human interface. In case this is not available, additional seven days time would be given to the applicant to furnish physical copies of the document for further processing of the FDI proposal.