Foreign Direct Investment is promoted by developing economies like India, in order to supplement domestic capital, technology and skills to ensure accelerated economic growth. Accordingly, Department of Industrial Policy and Promotion of the Ministry of Commerce and Industry adopted the consolidated FDI policy in India with effect from August 28, 2017.

With the onset of COVID-19 pandemic in India, in order to curb opportunistic takeovers/acquisitions of Indian companies, the Government of India has reviewed the FDI policy and accordingly amended the same. Consequentially, the Department of Economic Affairs of the Ministry of Finance notified the Foreign Exchange Management (Non-debt Instruments) Amendment Rules, 2020 on April 22 which are effective immediately.

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