The Home Ministry has given security clearance to more than 5,000 investment proposals, including Foreign Direct Investment, in the last four years.
The ministry has expedited the security clearance procedure after completely revamping the entire process and relaxing various norms.
The home ministry granted the security clearance to 815 investment proposals in 2014, 1,201 proposals in 2015 and 1,260 in 2016, a ministry official said.
In 2017, security clearances were given to around 1,200 investment proposals, the official said. In addition, 543 proposals were automatically cleared in 2015 due to an implementation of the revised policy guidelines.
Policy for national security clearance:
The Ministry of Home Affairs has formulated a policy for national security clearance for certain sensitive sectors of the economy by codifying all existing practices. In addition, the policy has also liberalized certain investment restrictions existing earlier.
The new policy is aimed at bringing about a healthy balance between meeting the imperatives of national security and facilitating ease of doing business and promoting investment in the country.
Under the new policy, fifteen parameters have been laid down where inputs from security agencies will be sought.
The parameters on which inputs would be sought by the security agencies would be money laundering charges against the promoters, terrorist angle, financial fraud and scam, passport fraud, links with external intelligence agencies and conviction for any serious crime like murder.