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Security clearances given to more than 1600 proposals

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Dion Global

12 Feb 2019

Ministry of Home Affairs has given security clearance to more than 1600 proposals in the past two years in critical sectors like defence, arms & ammunition, explosives, telecommunications, information and broadcasting, civil aviation, currency, shipping, etc.

As per information provided by Department of Industrial Policy & Promotion and Reserve Bank of India, FDI through automatic route is under general permission and can be received without any approval, in compliance with the Foreign Exchange Management (Transfer or issue of security by a person resident outside India) Regulation, 2017. No information is available about the number of proposals received for FDI under automatic route. Therefore, information related to percentage in terms of number of FDI proposals coming through the automatic route is not available.

Ministry of Home Affairs has disposed of more than 4,600 security clearance proposals including 134 proposals of foreign direct investment in Government approval route requiring security clearance of the Ministry of Home Affairs.

Average processing time for such clearance was about 71 days in 2018.