DH NEWSDelhiDH Latest NewsLatest NewsIndiaNEWSBusiness

Finance Minister Nirmala Sitharaman: 54 Chinese foreign direct investment proposals pending with India

Just a few years ago, India tried to limit investments from China due to rising political tensions between the two countries. However, according to a statement made by Indian Finance Minister Nirmala Sitharaman on Monday, New Delhi has received 54 foreign direct investment (FDI) proposals from China over the past year, which remain pending as of March 21, 2023.

In April 2020, the Indian government amended its FDI policy to prevent opportunistic takeovers and acquisitions of Indian companies during the COVID-19 pandemic.

Sitharaman stated that India is not currently considering easing the restrictions on countries that share land borders with India or have investors from these countries.

Under current regulations, only the government route is available to entities from countries that share a land border with India. Nationals of these countries, as well as beneficiaries of investments from these countries, can also only invest under the government route.

Additionally, any transfer of ownership of existing or future FDI in an Indian company resulting in beneficial ownership falling within the aforementioned categories also requires government approval.


Post Your Comments

Back to top button