Amendments in FDI Policy in relation to investments from countries sharing land border with India
1.1 Press Note 2 dated 17.4.2020:
• In order to curb opportunistic takeovers / acquisitions of Indian companies due to the COVID-19 pandemic, the Government of India had amended the FDI Policy vide Press Note 3 (2020) dated 17.04.2020 (‘PN3’).
• Pursuant to PN3, the following investments in India required prior approval of the Government of India:
i. Investment by an entity of a country, which shares land border with India (‘LBC’); or
ii. Where the beneficial owner of an investment into India is situated in or is a citizen of any such country,
