FIPB

FIPB is a government body in India that is responsible for the approval of foreign direct investment (FDI) into the country. It is a part of the Department of Economic Affairs, Ministry of Finance. The FIPB was established in 1991 to promote foreign investment in India and to simplify the process of foreign investment. The board is chaired by the Secretary of the Department of Economic Affairs and consists of representatives from various ministries and departments. The board meets once a month to consider proposals for foreign investment and make recommendations to the Government of India. The board has the authority to approve foreign investments up to Rs. 3,000 crore (approximately US$450 million). Proposals for investments above this limit are referred to the Cabinet Committee on Economic Affairs (CCEA) for approval.