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TMI BlogRestricting FDI Inflows From China in The Strategic SectorX X X X Extracts X X X X X X X X Extracts X X X X ..... Restricting FDI Inflows From China in The Strategic Sector X X X X Extracts X X X X X X X X Extracts X X X X ..... ES SECTOR 24,653,869.35 14,212,553.23 3,983,728.45 42,850,151.03 2 Others 204,351,853.63 149,563,897.59 56,665,107.73 410,580,858.95 Grand Total 229,005,722.98 163,776,450.82 60,648,836.18 453,431,009.98 In order to curb opportunistic takeovers/acquisitions of Indian companies due to the COVID-19 pandemic, the Government, vide Press Note 3 (2020) dated 17.04.2020 read with Foreign ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Exchange Management (Non-debt Instruments) Amendment Rules, 2020 dated 22.04.2020, amended the FDI policy according to which an entity of a country, which shares land border with India or where the beneficial owner of an investment into India is situated in or is a citizen of any such country, can invest only under the Government route. Further, in the event of the transfer of ownership of any exi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sting or future FDI in an entity in India, directly or indirectly, resulting in the beneficial ownership falling within the restriction/purview of the said policy amendment, such subsequent change in beneficial ownership will also require Government approval. As per the Standard Operating Procedure (SOP) for processing FDI Proposals dated 9.11.2020, applications arising out of Press Note 3 (2020) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dated 17.04.2020 read with Foreign Exchange Management (Non-debt Instruments) Amendment Rules, 2020 dated 22.04.2020, require security clearance from Ministry of Home Affairs.
This information was given by the Minister of State in the Ministry of Commerce and Industry, Shri SomParkash, in a written reply in the Rajya Sabha. X X X X Extracts X X X X X X X X Extracts X X X X
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