NRI investment on non-repatriation basis to be treated as domestic: DPIIT ...Middle East

Business Standard - Economy

Investment by non-resident Indians (NRIs) on non-repatriation basis in an Indian company will be treated as domestic investment for the purpose of calculating indirect overseas inflows, according to a DPIIT press note. The Department for Promotion of Industry and Internal Trade (DPIIT) said that the government has reviewed the FDI (foreign direct investment) policy in relation to investments made by an Indian company owned and controlled by non-resident Indians (NRIs) on a non-repatriation basis. In order to provide a clarity on downstream investments made by NRIs, a clause has been added in the FDI policy. The clause was added in the guidelines for calculation of direct and indirect foreign

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