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The latest changes to the Foreign Direct Investment (FDI) came into effect from Thursday midnight with all direct investment from China now requiring mandatory government approval.
The Department of Economic Affairs on Wednesday issued the updated the Foreign Exchange Management (Non-debt Instruments) (FEMA) Rules, 2019 which includes the latest FDI norms. The routine update to the FEMA rules mean that from now on, all incoming funds from China, as well as all nations with which India shares a land border - including Pakistan, Bangladesh, Bhutan, Nepal and Myanmar, will now face close inspection. Earlier, this was true for only Pakistan and
