The government has not made any changes in FDI (FDI) policy for countries sharing land border with India. Sources gave this information on Wednesday. The government issued the ‘Press Note 3’ in 2020 under which it became mandatory for investors of these border countries to take prior approval of the government to invest in any field.
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No change in FDI policy
Sources said that ‘Press Note 3’ is equally applicable to all border countries of India. These countries include China, Bangladesh, Pakistan, Bhutan, Nepal, Myanmar and Afghanistan. A source said, “After the release of this press note, there has been no change in the FDI policy related to investment from countries sharing land border with India.”
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Approval process for FDI applications from China was streamlined
These comments are important because some reports claimed that the approval process for FDI applications from China has been streamlined. Currently, an inter-ministerial committee headed by the Home Secretary considers applications under the Press Note 3. Most FDIs coming to India fall under the automatic approval route.
(PTI information)