FDI norms soon for companies with part-Chinese stake

Although the Cabinet on March 10 relaxed Press Note 3 (PN3 of the 2020 series) by allowing the automatic approval route for overseas investors with up to 10% beneficial ownership from countries sharing a land border with India, the decision is yet to be formally notified, the officials said, requesting anonymity. While the Department for Promotion of Industry and Internal Trade (DPIIT) issued the change through Press Note 2 of the 2026 series on March 15, the Cabinet decision has not yet come into force as stakeholder consultations are underway to align it with the Foreign Exchange Management Act (FEMA),…