In a major change in its foreign direct investment (FDI) policy, India has brought in stricter measures to curb the 'opportunistic takeover' of Indian companies due to the current Covid-19 pandemic by firms in neighbouring countries, including China.
According to the Press Note 3 issued by the Department for Promotion of Industry and Internal Trade, the government has said that an entity of a country which shares a land border with India can invest only after receiving government approval.
Recently China's Central Bank has purchased one percent stake in housing major HDFC through open market operations.
According to the Press Note 3 issued by the Department for Promotion of Industry and Internal Trade, the government has said that an entity of a country which shares a land border with India can invest only after receiving government approval.
Recently China's Central Bank has purchased one percent stake in housing major HDFC through open market operations.
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