Ministry Of Commerce Releases New Edition Of Consolidated FDI Policy With Curbs On China

Ministry Of Commerce Releases New Edition Of Consolidated FDI Policy With Curbs On ChinaCommerce Minister Piyush Goyal (Ramesh Pathania/Mint via Getty Images)

The Ministry of Commerce on Wednesday (28 October) released the latest edition of the consolidated policy for foreign direct investment (FDI), which incorporates all the measures and changes adopted by the government regarding foreign investments in the past one year.

The policy document said that the FDI policy came into effect from 15 October.

The policy also includes the decisions taken by the government in the past few months, largely keeping in view the investments coming in from China.

"An entity of a country, which shares land border with India or where the beneficial owner of an investment into India is situated in or is a citizen of any such country, can invest only under the government route," it said.

Further, a citizen of Pakistan or an entity incorporated in Pakistan can invest, only under the government route, in sectors or activities other than defence, space, atomic energy and sectors or activities prohibited for foreign investment.

As part of the Aatmanirbhar Bharat economic package in May, the government liberalised the FDI policy for several sectors, including defence, coal mining, digital news, contract manufacturing and single-brand retail trading.

(This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.)