As many as 54 foreign direct investment (FDI) proposals are pending decision with the government pertaining to investors or beneficial owners from China and Hong Kong, Finance Minister Nirmala Sitharaman told the Lok Sabha on Monday.
The Minister also said there is no proposal under consideration of the government to ease the restrictions on foreign investments from entities of countries which share a land border with India imposed in April 2020.
The FDI policy was amended so that an such entities “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”.
“Additionally, any transfer of ownership of any existing or future FDI in an entity in India resulting in the beneficial ownership falling within the aforesaid jurisdiction(s) will also require Government approval,” the Minister reiterated.
