Investment in India - Foreign Investment Promotion Council - Constitution & Functions Constitution The Government has constituted a Foreign Investment Promotion Council (FIPC) under the chairmanship of Chairman ICICI, to undertake vigorous investment promotion and marketing activities. The Presidents of the three apex business associations such as ASSOCHAM, CII and FICCI will be members of the Council. A Ministry of Industry personnel will be Member-Secretary. Boost to FDI Setting up of the Council follows the Governments's decision to strengthen the institutional mechanism relating to the consideration and approval of Foreign Direct Investment (FDI) proposals. The Common Minimum Programme (CMP) which states that the nation needs and has the capacity to absorb at least US $ 10 billion a year as FDI will require considerable promotional efforts apart from facilitating foreign investment approvals.
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