In India, who was the initial head of the Foreign Investment Promotion Board?
Principal Secretary to the Prime Minister
The Foreign Investment Promotion Board (FIPB) was a specially created government body meant to act as a single-window clearance mechanism for proposals of foreign direct investment (FDI) that did not fall under the automatic route.
When it was first constituted in the early 1990s, at the time of India's economic liberalisation, it was placed directly under the Prime Minister's Office to give it high-level backing and speed.
Reflecting this placement, its initial head was the Principal Secretary to the Prime Minister, who chaired the board and coordinated the approval of FDI proposals.
Later the FIPB was shifted to the Ministry of Finance, and its chairmanship moved to the Finance Secretary or Economic Affairs Secretary within the Department of Economic Affairs.
The Finance Minister, External Affairs Minister and Home Minister were political heads of their ministries and did not chair the board in its initial form.
The FIPB was finally abolished in 2017, after which FDI proposals were handled by the concerned administrative ministries themselves.
Therefore the answer is Principal Secretary to the Prime Minister.
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