The government also increased the financial power of the Foreign Investment Promotion Board to give single window clearance for investment projects up to 50 billion rupees ($753.35 million) from Rs 3,000 crore (Rs 30 billion).
"The crux of these reforms is to further ease, rationalise and simplify the process of foreign investments into the country and to put more and more FDI proposals on automatic route instead of government route where time and energy of the investors are wasted," the government said in a statement.
Image: A general view of a coal stockyard in East Jaintia Hills in Meghalaya. Photograph: Krishna N Das/Files/Reuters
Why Modi govt's FDI claims are puzzling
India among fastest growing FDI sources for USA
India tops in FDI for new projects in Jan-June
India gets $19.78 bn FDI from nations Modi visited