The government has taken effective measures like lockdown amid the ongoing Corona crisis in the country. At the same time, any company or person from the countries sharing the land border with India will have to seek government approval before investing in any sector in India. The Department of Promotion of Industry and Internal Trade (DPIIT) has given this information. This decision will affect foreign investment from countries like China. This decision of the government is very important. This decision has been taken so that foreign companies do not acquire domestic companies by taking advantage of the fragile conditions created by covid-19.
For your information, let us tell you that till now the government's permission was needed only for investments coming from Bangladesh and Pakistan. A press release issued by DPIIT stated that any company or citizen of the countries sharing land border with India can invest only after permission from the government. Also, the press release said that the Government of India took this decision after reviewing the policies related to Foreign Direct Investment (FDI) to prevent 'opportunistic takeovers / acquisitions' of Indian companies due to the covid-19 epidemic. did.
Regarding the matter, Sandeep Jhunjhunwala, director of Nangia Andersen LLP, said that China's tech investors have made a new investment of four billion dollars in Indian startup companies according to an estimate. He said that in the last few years, you can understand the pace of investment towards China, that Chinese investors have invested in 18 of the 30 start-up companies in India. Jhunjhunwala said that it is a decision taken at the right time to protect its technology ecosystem.
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