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New Changes in FDI Policy- Indian Govt has ammended in its FDI policy by amending para 3.1.1 of extant FDI policy. Now NRIs, Pakistan residents can only invest under Govt route.BGovt of India reviewing its Foreign Direct Investment policy amended the policy in prevention of curbing opportunistic takeovers/acquisitions of Indian companies due to COVID19. Now onwards a non-resident entity can invest in India, subject to FDI Policy except in those sectors/activities which are prohibited, Govt of India to stop opportunistic takeovers/acquisitions of Indian companies amid COVID19 pandemic brought the amendment & amended para 3.1.1 of extant FDI policy as contained in Consolidated FDI Policy, 2017 said Ministry of Commerce & Industry.
After the amendment in FDI law a company or an individual from a country sharing land borders with India can invest only under 'govt approval route according to DPIIT. Department for Promotion of Industry and Internal Trade under the Ministry of Commerce and Industry released an amendment of the Foreign Direct Investment Policy. Government of India reviews extant FDI policy for curbing opportunistic takeovers/ acquisitions of Indian Companies due to COVID19 pandemic and amended para 3.1.1 of extant FDI policy as contained in Consolidated FDI policy 2017.
Following the new changes have been made by Ministry of Commerce amid Covid19 pandemic-
The new amendment in FDI Law para 3.1.1 is brought up by Department of Promotion of Industry and Internal Trade, Ministry of Commerce and Industry, GoI in view of stopping takeovers/ acquisition of Indian Companies amid Covid19 pandemic.
Experts views on Indian FDI amendment-
If foreign investments affect its domestic interests, it is the duty of the govt to protect the country's companies. I laud the govt's decision said Aryama Sundaram, Senior Lawyer SC.
PM Modi safeguards national interest first. It was demonstrated by today's bold decision, Syed Zafar Islam, Spokesperson, BJP