homeeconomy News347 FDI proposals received from countries sharing land border with India; 66 approved

347 FDI proposals received from countries sharing land border with India; 66 approved

In April 2020, the government had made its prior approval mandatory for foreign investments from countries that share land border with India to curb opportunistic takeovers of domestic firms following the COVID-19 pandemic. As many as 347 FDI proposals have been received by the government from countries sharing land border with India since April 18, 2020, out of which 66 proposals have so far been granted.

By PTI Mar 16, 2022 4:29:45 PM IST (Updated)


As many as 347 foreign direct investment (FDI) proposals, worth about Rs 75,951 crore, have been received by the government from countries sharing land border with India since April 18, 2020, Parliament was informed on Wednesday. Out of 347, 66 proposals have so far been granted approval by the government and 193 cases have been rejected or closed or withdrawn, Minister of State for Commerce and Industry Som Parkash said in a written reply to the Lok Sabha.
"Since 18th April, 2020, 347 FDI proposals have been received by the government from countries sharing 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...The value of investments proposed in the aforementioned proposals received by the government is approximately Rs 75,951 crore," he said.
In April 2020, the government had made its prior approval mandatory for foreign investments from countries that share land border with India to curb opportunistic takeovers of domestic firms following the COVID-19 pandemic.