The Finance Ministry has notified a decision to allow overseas companies with Chinese shareholding of up to 10 per cent to invest in India under the automatic route under FEMA, according to a notification. In March, the Union Cabinet approved amendments in the press note (PN) 3 of 2020 of the Department for Promotion of Industry and Internal Trade (DPIIT). As per the amendments, foreign companies having a Chinese/Hong Kong shareholding of up to 10 per cent will be eligible to invest in India in sectors where FDI is permitted under the automatic route subject to sectoral conditions. Restrictions remain…
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