Govt nod must for all FDI from neighbouring nations, including China: DPIIT

Aim is to curb 'opportunistic takeover' of Indian companies due to the current Covid-19 pandemic, new rules also apply to transfer of ownership of FDI

In a major change in its foreign direct investment (FDI) policy, India has brought in stricter measures to curb the 'opportunistic takeover' of Indian companies due to the current Covid-19 pandemic by firms in neighbouring countries, including China.

According to the Press Note 3 issued by the Department for Promotion of Industry and Internal Trade (DPIIT) on Saturday, the government has said that an entity of a country which shares a land border with India can invest only after receiving government approval.

"However, an entity of a country, which shares a land border with India or where the beneficial owner