Government to speed up FDI nod for 40 items in six sectors

ANI image NEW DELHI: Govt has notified 40 items across six sectors, including rare earth permanent magnets, capital goods, polysilicon wafers, advanced battery components and electronic capital goods and components for expedited FDI clearance for proposals coming from countries that share land border with India, a move aimed at fast-tracking approvals from Chinese companies in select segments. Besides, the department for promotion of industry and internal trade (DPIIT) has also sought to fix timelines, including for security clearances, so that foreign investment proposals are normally approved within 12 weeks as part of an exercise to step up inflows, amid a…