Eforeign Firms May Not Need Ex-Partners & #8217; Okay

The government is thinking of allowing foreign investors to set up a new subsidiary in India without having to procure a no-objection certificate (NoC) from a partner if the old joint venture has ceased to operate.

This is to be part of an impending package of measures to relax the rules for foreign direct investment (FDI). The norm, however, is likely to remain as stringent as it currently is if the foreign investor is involved in a joint venture that is up and running.