New FDI rules bar automatic investments by Neighbouring countries

The Government of India has reviewed the extant FDI policy for curbing opportunistic takeovers/acquisitions of Indian companies due to the current COVID-19 pandemic and amended para 3.1.1 of extant FDI policy as contained in Consolidated FDI Policy, 2017. On account of this review and revision, foreign investment from Neighboring Countries including China will require government approval now. Earlier, the said condition was made for the for residents and entities incorporated in/ citizen of Bangladesh and Pakistan. Now the aforesaid restriction has been extended to Countries like China, Nepal, Burma, Myanmar, Bhutan and Afghanistan, who share land borders with India.

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