Business

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.

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

Spriha Rai

Recent Posts

PM Modi Announces Sending Lord Buddha’s Relics To Thailand

PM Modi announced that India will send relics of Lord Buddha, discovered in Gujarat’s Aravalli…

13 hours ago

PM Modi Shares Highlights From Bangkok: A Vibrant Welcome, Community Connect, & The Ramayan!

Prime Minister Narendra Modi highlighted the deep cultural ties between India and Thailand during his…

13 hours ago

Judicial Strength At Risk, Says Delhi HC Bar Association On Justice Singh’s Transfer

The Delhi High Court Bar Association has raised concerns over Justice Chandra Dhari Singh’s transfer…

13 hours ago

PM Modi: Thailand Key To India’s ‘Act East’ Policy & Indo-Pacific Vision

Prime Minister Narendra Modi, during his visit to Bangkok, highlighted Thailand's strategic importance in India's…

14 hours ago

Thailand Releases Commemorative Stamp Showcasing 18th-Century Ramayan Murals During PM Modi’s Visit

Thailand unveiled a commemorative stamp featuring 18th-century Ramayan mural paintings, marking the first day of…

14 hours ago

Centuries-Old Bonds Strengthen As India-Thailand Deepen Partnership: PM Modi

PM Modi and Thai PM Paetongtarn Shinawatra elevate India-Thailand ties to a strategic partnership in…

14 hours ago