Months after easing investment curbs on land-bordering countries, the government has issued a new Standard Operating Procedure (SOP) as per which foreign direct investment (FDI) proposals will be required to be processed within 12 weeks. The move is aimed at accelerating FDI inflows into priority sectors. How will the process under the new SOP work and how will it impact India’s investment climate? Here’s what to know. As per the new SOP, the Department for Promotion of Industry & Internal Trade (DPIIT) is expected to disseminate the proposal to concerned ministries, Reserve Bank of India (RBI), Ministry of Home Affairs (MHA) and Ministry of External Affairs (MEA) within two days. The concerned ministries, along with MEA, RBI, and MHA, are expected to submit comments within eight weeks after internal scrutiny of the application.…