The government has said that a total of 29 Foreign Direct Investments (FDI) have been reported under the revised framework as of the 20th of this month, involving proposed FDI of more than ₹4,800 crore. These investments span a range of sectors, including Information Technology, Artificial Intelligence, Information and Communication, Manufacturing, Pharmaceuticals, Data Centres and Transport Services, among others.
The revised framework, notified under the Foreign Exchange Management (Non-Debt Instruments) Amendment Rules on 1st May, facilitates and expedites the flow of foreign investment into India by removing the requirement for prior government approval in cases involving non-controlling ownership by Land Bordering Countries of up to 10 per cent.
The Ministry of Commerce and Industry said the 29 investments have been reported by investors based in jurisdictions including Mauritius, the United States, South Korea, Japan, Singapore, Luxembourg and the Cayman Islands. It added that the reform provides greater certainty to investors, reduces transaction time and further strengthens the ease of doing business in India.
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