The circular addresses amendments to the Foreign Exchange Management (Overseas Investment) Directions,...

The circular addresses amendments to the Foreign Exchange Management (Overseas Investment) Directions, 2022 regarding investments in overseas funds. It clarifies that investments in units of overseas investment funds regulated by the host jurisdiction's financial sector regulator constitute Overseas Portfolio Investment (OPI). The amendments allow listed Indian companies, resident individuals, and unlisted Indian entities in International Financial Services Centres (IFSCs) to make such investments. The circular, u/s 10(4) and 11(1) of the Foreign Exchange Management Act, 1999, updates the previous directions and emphasizes compliance with other applicable laws. .....

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