Tuesday August 26 2014
News Source: Global Disclosures
Focus: Foreign Investment
Type: General
Country: India
The Government of India has announced changes to the Consolidated Foreign Direct Investment Policy in relation to India foreign investment in defence.
Following the changes, the foreign investment cap has been increased from 26% to 49% under the Government route. Approval may be granted beyond the threshold on a case-by-case basis.
Portfolio Investment by Foreign Portfolio Investors/Foreign Institutional Investors, Non-Resident Indians and Qualified Foreign Investors shall not exceed 24% in aggregate.
The above change is effective immediately.
Click on the above link for the press note.