[ad_1]
On Saturday, the central government made its prior approval compulsory for foreign investments from countries that share a land border with India to curb “opportunistic acquisitions” of national companies after the COVID-19 pandemic, a measure that will restrict China’s FDI. . The countries that share land borders with India are China, Bangladesh, Pakistan, Bhutan, Nepal, Myanmar and Afghanistan.
Modified policy to curb “opportunistic acquisitions”
According to a press release issued by the Department for the Promotion of Industry and Internal Trade (DPIIT), “An entity of a country, which shares a land border with India or where the beneficial owner of the investment in India is located or He is a citizen of any country, he can only invest under the government’s route. ”
He said the government has modified FDI (foreign direct investment) policy to curb “opportunistic acquisitions / acquisitions” of Indian companies due to the COVID-19 pandemic.
Here is the official statement released by DPIIT:
READ | ‘India has sufficient stock of medicines, fertilizers, PPE’: Union Min Gowda assures citizens
READ | ‘COVID-19 cases have no impact on our operational capabilities’: Deputy Chief of Navy
With 957 new cases of COVID-19 in the past 24 hours and 36 deaths, India’s total coronavirus case count rose to 14,792, the Union Ministry of Health and Family Welfare said Saturday. The total number of cases includes 2,014 cured and discharged patients, one migrated and 488 deaths. Currently, there are 12,289 active cases of COVID-19 in the country.
READ | Imran Khan says that in mid-May Pakistan will see more cases of COVID-19; cites the “biggest problem”
READ | United States Praises India’s “Generous” Efforts To Help Friends And Partners In Fight Against COVID
(With contributions from agencies)
[ad_2]
