Finance Minister Nirmala Sitharaman: 54 China FDI Proposals Pending

Finance Minister Nirmala Sitharaman informed the Lok Sabha the government is still deliberating on up to 54 foreign direct investment (FDI) proposals involving investors or beneficial owners from China and Hong Kong.

Additionally, she said that there was no plan to loosen the restrictions on foreign investments made by organizations from nations that share a land border with India.

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Finance Minister further said, “According to the revised FDI policy, such entities or where the beneficial owner of an investment in India is located in or is a citizen of any such country, can invest only through the government route”.

“A transfer of FDI ownership in an Indian entity that results in beneficial ownership falling within the aforementioned jurisdiction (s) will also require approval from the Centre”, Nirmala Sitharaman added.

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