Govt reviews FDI policy to prevent takeovers

April 18, 2020 16:31

The government of India has reviewed Foreign Direct Investment policy for 'curbing opportunistic takeovers/acquisitions of Indian companies due to COVID-19'.

'A non-resident entity can invest in India, subject to FDI policy except in those sectors/activities which are prohibited,' a government release said.

'However, an entity of a country, which shares land border with India or where the beneficial owner of an investment into India is situated in or is a citizen of any such country, can invest only under the government route,' it said.

'Further, a citizen of Pakistan or an entity incorporated in Pakistan can invest, only under the government route, in sectors/activities other than defence, space, atomic energy and sectors/activities prohibited for foreign investment,' the release said. -- ANI

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