Foreign Direct Investment (FDI) in India is allowed under the automatic route in most sectors. The FDI policy currently prohibits foreign investment from a citizen or an entity incorporated in Pakistan and Bangladesh under the automatic route.
Recently, the Government of India ('GoI'), vide Press Note 3 (2020 series) dated 17 April 2020, has amended the Consolidated Foreign Direct Investment Policy, 2017 (FDI policy) to curb the opportunistic takeovers/acquisitions of Indian companies due to the COVID-19 pandemic. Accordingly, investments from an entity of a country that shares a land border with India or where the beneficial owner of investment into India is situated in or is a citizen of any such country will require the GoI approval.
Winpe and PwC present a webcast in which we will share our analysis of the proposed amendment mentioned above, and its likely impact on foreign investments in India.