European funds look for new gateways into India post Chinese foreign direct investment curbs


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MUMBAI: India's clampdown on foreign direct investment (FDI) from China has prompted several European funds to abandon their Hong Kong-based investment vehicles created for this purpose, said two people with the direct knowledge of the matter. Currently there are more than 100 FDI applications pending for approval with the government. Of these, around 15-17 are learnt to be from European funds which intended to use Hong Kong as a gateway into India. With these applications yet to get the government's approval, these investors are looking for friendlier alternatives such as the Netherlands and Ireland to route their money into the...