In April 2020, the government had mandated its pre-approval for foreign investment from countries sharing a land border with India to curb opportunistic takeovers of domestic companies following the COVID-19 pandemic.

As many as 347 Foreign Direct Investment (FDI) proposals, worth about Rs 75,951 crore, have been received by the government since April 18, 2020 from countries sharing a land border with India, parliament was informed on Wednesday. Of the 347, 66 proposals have so far been approved by the government and 193 cases have been rejected or closed or withdrawn, Trade and Industry Minister Som Parkash said in a written reply to the Lok Sabha.

“As of April 18, 2020, 347 FDI proposals have been received by the government of countries that share a land border with India or where the beneficial owner of an investment in India is located in or is a citizen of such a country… The value of the proposed investment in the above proposals received by the government is about Rs 75,951 crore,” he said.

In April 2020, the government had mandated its pre-approval for foreign investment from countries sharing a land border with India to curb opportunistic takeovers of domestic companies following the COVID-19 pandemic.

Countries that share a land border with India are China, Bangladesh, Pakistan, Bhutan, Nepal, Myanmar and Afghanistan. According to that decision, FDI proposals from these countries require government approval for investments in India in any sector. The 66 approved proposals come from sectors such as automotive (7), chemicals (5), computer software and hardware (3), pharmaceuticals (4), education (1), electronics (8), food processing (2), information and broadcasting (1), machine tools (1), petroleum and natural gas (1), energy (1), service sector (11).

The total investment value of these 66 proposals aggregated to Rs 13,624.88 crore. In another reply, Parkash said a decision has been made to develop a platform for data exchange between all types of operators.

Accordingly, the Unified Logistics Interface Platform (ULIP) was designed by National Industrial Corridor Development Corporation Ltd (NICDC), led by NITI Aayog.

“So far, the platform has been integrated with 24 systems from six ministries, including the Ministry of Ports, Shipping and Waterways, the Ministry of Railways, the Ministry of Road Transport and Highways, the Ministry of Civil Aviation, the Directorate-General for Foreign Trade and the Central Council for Indirect Taxation. (CBIC) through 78 Application Programming Interface (APIs),” he added.

National Highways Logistics Management Ltd (NHLML), a wholly owned subsidiary of NHAI, has already applied for tenders for the development of multimodal logistics parks in Nagpur, Chennai and Bangalore and has initiated the feasibility study for MMLP in Indore.


This post 347 FDI proposals received from countries sharing a land border with India; 66 approved was original published at “https://www.financialexpress.com/economy/347-fdi-proposals-received-from-countries-sharing-land-border-with-india-66-approved/2463046/”

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