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New Delhi received 29 foreign direct investment proposals worth $500 million with one move: It decided to auto-approve investors from neighboring countries, like China, to hold non-controlling stakes of up to 10%.
India's commerce and industry ministry said the 29 approved proposals, worth 48.95 billion rupees or about $511 million, span across a range of industries including information technology, artificial intelligence, manufacturing, pharmaceuticals, data centers and transport services.
A government decision in May allowed an automatic-approval route for investors from land-bordering countries holding non-controlling stakes of up to 10%.
Previously, any investment tied to a beneficial owner in a bordering nation, a rule aimed squarely at China after the 2020 border clashes, required full government sign-off, regardless of stake size.
#worth #million #countries #controlling
New Delhi received 29 foreign direct investment proposals worth $500 million with one move: It decided to auto-approve investors from neighboring countries, like China, to hold non-controlling stakes of up to 10%.
India's commerce and industry ministry said the 29 approved proposals, worth 48.95 billion rupees or about $511 million, span across a range of industries including information technology, artificial intelligence, manufacturing, pharmaceuticals, data centers and transport services.
A government decision in May allowed an automatic-approval route for investors from land-bordering countries holding non-controlling stakes of up to 10%.
Previously, any investment tied to a beneficial owner in a bordering nation, a rule aimed squarely at China after the 2020 border clashes, required full government sign-off, regardless of stake size.
#worth #million #countries #controlling
2 months ago
