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Ministry fast-tracks security clearance
What has happened?
Among the foreign countries, U.S., China (including Hong Kong), Mauritius, U.K. has received the green signal for the maximum number of projects at 10 each, followed by Germany 6, Bangladesh 3 and two each for Italy, Israel, Netherlands and Switzerland.
Overseas investment proposals are getting the nod in 40 days as against nine months
- Earlier the time taken for security clearance for a project was eight-nine months on an average. This has been brought down to 40 days since last year
- The Ministry had formulated a new national security clearance policy in 2015 after the government decided to speed up projects, which were stuck for lack of approval by Intelligence Bureau (IB) or other agencies including the State police.
15 parameters
The policy has 15 parameters on which inputs from security agencies are sought
Once it has got an application from an investor, the Ministry decides on the status of security clearance to the company within 4-6 weeks.
