Review of Foreign Direct Investment (FDI) Policy on Investments by Non Resident Indians (NRIs), Persons of Indian Origin (PIOs) and Overseas Citizens of India (OCIs)

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..... Direct Investment (FDI) Policy on Investments by Non Resident Indians (NRIs), Persons of Indian Origin (PIOs) and Overseas Citizens of India (OCIs) 1.0 Present Position: 1.1 Paragraph 2.1.27 of 'Consolidated FDI Policy Circular of 2015', effective from May 12, 2015, relating to the definition of Non Resident Indian (NRI), presently reads as below: 'Non-Resident Indian' (NRI) m .....

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..... May 12, 2015: (i) Para 2.1.27 is amended to read as below: 'Non-Resident Indian' (NRI) means an individual resident outside India who is a citizen of India or is an 'Overseas Citizen of India' cardholder within the meaning of section 7 (A) of the Citizenship Act, 1955. 'Persons of Indian Origin' cardholders registered as such under Notification No. 26011/4/98 F.I, dated .....

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