Finance Minister Nirmala Sitharaman
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.
Also read: Government Revoked License Of 18 Pharma Companies, Read Below To Know Why
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.
Also read: Foods To Boost Blood Flow And Circulation
Former US Vice President Dick Cheney died at the age of 84, following complications of…
Four killed and several injured as MEMU train collides with freight train near Bilaspur, Chhattisgarh.
Prime Minister Narendra Modi met Syro-Malabar Church bishops in New Delhi, assuring support for minority…
Ahead of the Bihar Assembly elections, PM Modi motivated BJP women workers in a virtual…
Supreme Court voices concern over POCSO misuse, urges awareness on consent, gender sensitivity and legal…
Gopichand Hinduja, Chairman of the Hinduja Group and one of Britain’s richest businessmen, passed away…