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    <title>Foreign Investment Proposals cleared by FIPB</title>
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    <description>The Foreign Investment Promotion Board has cleared retail-sector FDI proposals since the retail FDI policy began and has granted approvals across multiple other sectors, including defence, broadcasting, print media, civil aviation, asset reconstruction, banking, commodity exchanges, courier services, construction development, telecom services, non-banking financial services, and brownfield pharmaceuticals. FDI inflows are driven by private business decisions shaped by global economic conditions and the domestic business environment, causing year-to-year variation in inflows and in FIPB clearance activity.</description>
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