Changes in FDI Policy

There were some significant changes to the foreign direct investment (FDI) policy earlier this week. The Department of Industrial Policy & Promotion issued as many as six press notes on March 12, 2008 (available here).

The changes are in the following sectors:

1. Credit Information Companies;
2. Commodity Exchanges;
3. Industrial Parks;
4. Civil Aviation Sector;
5. Petroleum & Natural Gas Sector; and
6. Mining of titanium-bearing minerals and ores.

However, as Rediff Money notes, there was no liberalisation on the foreign investment policy in the real estate sector despite anticipation on that front.

About the author

Umakanth Varottil

Umakanth Varottil is an Associate Professor at the Faculty of Law, National University of Singapore. He specializes in corporate law and governance, mergers and acquisitions and cross-border investments. Prior to his foray into academia, Umakanth was a partner at a pre-eminent law firm in India.

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