Revised FDI Policy Issued

The Department
of Industrial Policy & Promotion, Government of India has issued the
revised Consolidated FDI Policy by way of Circular 1
of 2013
, which came into effect on April 1, 2013. This is pursuant to the
Government’s policy adopted a couple of years ago to update the FDI policy
periodically (now annually) such that it is available on a consolidated basis.
The new policy
incorporates all the changes made in the FDI regime in the last 12 months.
Notable among those relate to the retail sector (both multi-brand and
single-brand) and the aviation sector.

While the practice of
consolidation is welcome, the specific changes made in the current policy are
not evident from the text, and it would be necessary to compare with the
various press notes issued over the last year. It would help if those changes
are highlighted in this document or a separate note, which would make the
policy more user-friendly.

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.

1 comment

  • Has any law firm or anyone taken the pain to analyse the Policy and present the highlights and the changes incorporated in it.
    Generally within a day or two the highlights are out by several firms and individuals, however this time I cannot locate even one. Strange!

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