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The Central government on Saturday made its prior approval mandatory for foreign investments from countries that share a land border with India to curb “opportunistic takeovers” of domestic firms following the COVID-19 pandemic, a move which will restrict FDI from China. Countries that share land borders with India are China, Bangladesh, Pakistan, Bhutan, Nepal, Myanmar, and Afghanistan.
Policy amended for curbing “opportunistic takeovers”
According to a press note issued by the Department for promotion of Industry and Internal Trade (DPIIT), “An entity of a country, which shares a land border with India or where the beneficial owner of investment into India is situated in or is a citizen of any such country, can invest only under the government route.”
According to a press note issued by the Department for promotion of Industry and Internal Trade (DPIIT), “An entity of a country, which shares a land border with India or where the beneficial owner of investment into India is situated in or is a citizen of any such country, can invest only under the government route.”
Here is the official statement released by DPIIT:
