आर्थिक कार्य विभाग DEPARTMENT OF Economic Affairs

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Investment Division

Major Functions:

  1. On the investment front, all proposals for foreign direct investment which are not on the automatic route are processed and put up for approval of FIPB.
  2. To facilitate investment abroad, negotiations are undertaken for signing Bilateral Investment Protection and Promotion Agreements .This provides a congenial atmosphere for Overseas Indian investments and facilitates repatriation of profits back home.
  3. The foreign investment unit examines sectoral policy issues with respect to other ministries too.
  4. Foreign Exchange Policy aspects relating to Import/Export gold/silver.

SECTION- WISE ALLOCATION OF WORK

Investment - Broad categorisation into different sections is as follows:-

  1. FIPB-Facilitation Counter
  2. FIPB-I
  3. FIPB-II
  4. FIU (Foreign Investment Unit)
  5. International Investment Agreement Section
  6. Foreign Trade Section
  7. Domestic Investment Section

Name & contact address of division head

Shri Saurabh Garg,

JS(Currency & Investement),

Department of Economic Affairs,
Ministry of Finance,
Room No. 166-D, North Block,
New Delhi - 110001
Tel: 2309 2420; Intercom: 5043
Email: s[dot]garg[at]gov[dot]in, jsinv_dea[at]nic[dot]in

FIPB

The FIPB unit receives and processes the applications/proposals for foreign investment and places them before FIPB for consideration. Thereafter, it submits the recommendation of the Board to the Minister of Finance or CCEA, as the case may be, for decision. This unit is also responsible for communicating to the applicant the decisions of the Government on their proposals and carries on the activities relating to post-approval amendment, providing advice and guidance to the entrepreneur and investors and investment promotion and facilitation. FIPB Unit also maintains the FIPB internet portal for online filing of applications. It also publishes an Annual Review highlighting the major decision and issues handled by FIPB. FIPB Unit has been categorized in three parts, namely, (i) Facilitation Counter, FIPB-I, and FIPB-II. Work allocated to each of them is as under:-

FIPB Facilitation Counter

  1. Receipt of all fresh and amendment FDI proposals and registration thereof.
  2. Circulation of registered fresh FDI proposals to all permanent FIPB members and Administrative Ministries inviting their comments. The Administrative Ministries are identified on the basis of activities of the Indian Company.
  3. Transfer of all such proposals to FIPB Units.
  4. To attend to the queries of all Investors regarding their applications.
  5. Scrutiny of proposals received by Dak and to call for additional information/necessary information from the applicant.
Name and Designation of FIPB Facilitation Counter
Section Officer Under Secretary Deputy Secretary

Shri. Ashish Sharma
Under Secretary(FIPB)
Department of Economic Affairs,
Ministry of Finance,
Room no. 55, North Block,
New Delhi - 110001
Ph: +91-11-23092639 (O); Intercom : 5090
Email: ashish[dot]sharma70[at]nic[dot]in
Shri Gaurav Masaldan
Tel: 23092247
Intercom: 5038
Room no. 68-A
North block, New Delhi-110001
Email: masaldan[dot]gaurav[at]nic[dot]in

FIPB-I

Functions:

  1. FDI policy including clarification on policy related matters
  2. Scrutiny of fresh applications/proposals and preparation of summary thereon for FIPB
  3. Preparation of agenda for FIPB meetings
  4. Posting of agenda on the website
  5. Preparation of minutes of FIPB meetings
  6. Issue of Press Release on receipt of approved minutes.
  7. Posting of Press Release on website, on receipt of approved minutes
  8. Circulation of FIPB minutes
  9. Preparation of CCEA Note for seeking approval of CCEA based on FIPB recommendations, where required.
  10. Follow up action on cases deferred by FIPB
  11. Servicing of GoM on FDI and preparations/circulation of Cabinet/GoM notes on FDI policy.
  12. Submission of all periodical reports
  13. Preparation of summary/briefs for interaction of Senior Officers/ Hon’ble Minister with the investors in respect of fresh proposals.
  14. Parliament Questions
  15. Issue of approval/rejection, in respect of fresh proposals, as per approved minutes of the FIPB.
  16. Facilitating disseminating relevant/case specific information to the concerned Ministries/Department for preparation of replies to the Parliament Questions.
Shri Gaurav Masaldan
Tel: 23092247
Intercom: 5038
Room no. 68-A
North block, New Delhi-110001
Email: masaldan[dot]gaurav[at]nic[dot]in
Name and Designation of Officers FIPB-I
Section Officer Deputy Director Director/OSD
Shri Dinesh Changrani
Tel: 23095104
Intercom: 5104
Room No. 251-C
North Block, New Delh
i Email: dineshchangrani[dot]edu[at]nic[dot]in
Shri T. Narasimhan
Tel: 23094548
Intercom: 5752
Room No. 221
North Block, New Delhi
Email: narasimhan[dot]t[at]nic[dot]in

FIPB-II

Functions:

  1. Issue of approvals/rejections in respect of amendment proposals as per approved minutes of the FIPB
  2. Circulation of amendment proposals
  3. Scrutiny and examination of cases
  4. Preparation of briefs/notes for consideration of FIPB on amendment proposals
  5. Interaction with companies for documentation
  6. Preparation of summary/briefs for interaction of Senior Officers/ Hon'ble Minister with investors in respect of amendment proposals.
  7. Preparation of CCEA Note for seeking approval of CCEA based on FIPB recommendations where required
  8. Parliament Questions
  9. Facilitating of disseminating relevant/case specific information to the concerned Ministries/Departments for preparation of replies to the Parliament Questions
Name and Designation of Officers FIPB-II
Section Officer Deputy Director Director
Shri Vyomesh Pant
Tel: 23095105
Intercom: 5105
Room No. 251-C
North Block, New Delhi
Email: vyomesh[dot]pant38[at]nic[dot]in
Shri. Ashish Sharma
Under Secretary(FIPB)
Room no. 55, North Block,
New Delhi - 110001
Ph: +91-11-23092639, Intercom: 5090
Email: ashish[dot]sharma70[at]nic[dot]in
Shri Gaurav Masaldan
Tel: 23092247
Intercom: 5038
Room no. 68-A
North block, New Delhi-110001
Email: masaldan[dot]gaurav[at]nic[dot]in

Foreign Investment Unit (FIU)

Functions:

  1. FDI Policy including FDI Policy clarifications & related matters.
  2. Comments of FIPB proposals from policy angle including guidelines.
  3. Follow up of recommendations of Investment Commission.
  4. Foreign Investment in the NBFC Sector.
  5. National Productivity Council.
  6. It also has Sectoral charge of the following Ministries/Departments (with regard to policy matters ) -
    1. Foreign Exchange Policy aspects relating to Import/Export
    2. Ministry of Overseas Indian Affairs,
    3. Department of Public Enterprises
  7. List of Guard Files which are maintained by the section are as below:
    1. Parliament Questions (Rajya Sabha & Lok Sabha) and
    2. FIPB proposals.
  8. FIU Section do not administer any Law/Acts
Name and Designation of Foreign Investment Unit (FIU)
Section Officer Under Secretary Director/OSD
Smt. Inderjit Kaur Bhatia
Tel: 2309 5109
Intercom No. 5109
Room No. 64
North Block, New Delhi
Email: inderjit [dot] bhatia62 [at]nic[dot]in
Shri. Ashish Sharma
Under Secretary(FIPB)
Room no. 55, North Block,
New Delhi - 110001
Ph: +91-11-23092639, Intercom: 5090
Email: ashish[dot]sharma70[at]nic[dot]in
Shri Harsh Kumar Gautam
Tel: 2309 4172
Intercom No. 5037
Room No. 50
North Block, New Delhi
Email: harsh[dot]gautam [at]nic[dot]in

International Investment Agreement Section

Functions:

  • Negotiation and conclusion of Bilateral Investment Promotion & Protection Agreements (BIPA) with other countries
  • Nodal responsibility in relation to assistance in establishing various industries in foreign countries.
  • Setting up of Joint Ventures and Subsidiaries abroad - Policy and briefs on individual cases considered in the Special Committee on Investment abroad.

List of countries with whom bilateral investment promotion and protection agreements (BIPA) has been signed (as on December, 2013)

Notice relating investor dispute under the relevant provisions of the BIPAs/BITs may be served to:-

Name & contact address

Secretary

Department of Economic Affairs

Ministry of Finance, North block
New Delhi-110001

Name and Designation of International Investment Agreement Section
Section Officer Assistant Director/Under Secretary Director
Ms. Satinder Jit Kaur
Tel: 2309 5195
Intercom No. 5195
Room No. 64
North Block
New Delhi-110001.
Email: satinder[dot]kaur[at]nic[dot]in
- Shri Chanchal Chand Sarkar Director (IIA)
Tel. +91-11-2309 2908(O)
Intercom No. 5194
Room No:33
North Block, New Delhi
Email: cc[dot]sarkar[at]nic[dot]in

Foreign Trade Section

Functions:

  • Foreign Exchange aspects relating to Import/Export of gold/silver. Policy matters related to Gold Monetisation Scheme (GMS) & and Indian Gold Coin (IGC).
  • Inputs related to Comprehensive Economic Cooperation Agreement (CECA), etc. negotiated under the aegis of Ministry of Commerce & Industry with various countries and regional blocs.
  • Providing advice to Department of Commerce from financial angle in matters relating to project Export on deferred Payment Terms, Border5 Trade, Project Export Guidelines etc. Providing advice to Department of Commerce from financial angle in matters relating to SEZs/EPzs
  • Sectoral Charge of Ministry of Commerce
  • Export & Import Policy, particularly the foreign exchange aspects thereof, matters related to countertrade , matter relating to deemed Exports, including issuance of Notification/Public Notices in terms of its provisions of EXIM Policy
  • Agreements with countries in Asia (excluding SAARC) and Africa and providing of inputs on cooperation in financial sectors for the meetings of the joint commission.
  • Matters relating to meetings of Trade and Economic Relation Committee (TERC).
  • Policy issues related to Overseas Direct Investment.
Name and Designation of Foreign Trade Section
Section Officer Assistant Director Director
Shri C. K. Sundareswaran
Tel: 2309 5156
Intercom No. 5156
Room No. 275 A
North Block
New Delhi-110001
Email: ck [dot]sundareswaran [at]nic[dot]in
Shri Rajkumar
Tel: 2309 5238
Intercom No. 5238
Room No. 268-C
North Block
New Delhi-110001.
Email: raj [dot] kumar84 [at]nic[dot]in
Shri Akhilesh Kumar Mishra
Tel: 2309 3558
Intercom No. 5236
Room No 32 A
North Block
New Delhi-110001.
Email: akhileshk[dot]mishra [at]nic[dot]in

Domestic Investment Division

Functions:

  • All policy issues related to investment (except foreign investment), including industrialization, manufacturing sector and innovation.
  • Examining all policy proposals related to Ministry of Mines, Ministry of Steel, Ministry of MSME, Ministry of Heavy Industry, Ministry of Textiles, Department of Electronics and Information Technology, Department of Chemicals and Peetro-Chemicals, Department of Fertilizers and Department of Pharmaceuticals.
  • Policy issues related to integrated Township, Industrial Park and Manufacturing Clusters.
  • Financing and regulatory issues related to Manufacturing Sector and MSMEs
  • National Manufacturing Policy & National Investment Manufacturing Zone.
  • National Manufacturing Competitiveness Council (NMCC)
  • Works relating to ‘National Investment and Infrastructure Fund’ (NIIF).
Name and Designation of Domestic Investment Division
Section Officer Under Secretary Director
Smt. Sushila Ekka
Tel: 2309 4048
Intercom No. 4048
Room No. 64
North Block
New Delhi – 110001
Email: ekka[dot]sushila[at]nic[dot]in
Shri Ujjwal Kumar
Tel: 2309 4427
Intercom No. 5744
Room No. 276
North Block
New Delhi – 110001
Email: ujjwal[dot]k[at]nic[dot]in
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