{"id":238428,"date":"2020-11-03T10:36:02","date_gmt":"2020-11-03T05:06:02","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=238428"},"modified":"2020-11-03T11:17:35","modified_gmt":"2020-11-03T05:47:35","slug":"foreign-direct-policy-fdi-consolidated-fdi-policy-2020-read-the-key-aspects","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2020\/11\/03\/foreign-direct-policy-fdi-consolidated-fdi-policy-2020-read-the-key-aspects\/","title":{"rendered":"Foreign Direct Policy (FDI) | Consolidated FDI Policy, 2020: Read the Key Aspects"},"content":{"rendered":"<p style=\"text-align: justify;\"><em>Foreign Direct Investment (FDI) is considered as a major source of non-debt financial resource for economic development. FDI flows into India have grown consistently since liberalization and are an important component of foreign capital since FDI infuses long term sustainable capital in the economy and contributes towards technology transfer, development of strategic sectors, greater innovation, competition and employment creation amongst other benefits. Therefore, it is the intent and objective of the Government of India to attract and promote FDI in order to supplement domestic capital, technology and skills for accelerated economic growth and development. FDI, as distinguished from Foreign Portfolio Investment, has the connotation of establishing a \u2018lasting interest\u2019 in an enterprise that is resident in an economy other than that of the investor<\/em><span style=\"color: #000000;\"><strong>[1]<\/strong><\/span><em>.<\/em><\/p>\n<p style=\"text-align: justify;\">The Commerce and Industry Ministry, Government of India released the consolidated Foreign Direct Investment (FDI) policy 2020 on the 28th of October which is a single document containing all the decisions that have been taken by the Government with respect to FDI in the last three years. As per the Department for Promotion of Industry and Internal Trade (DPIIT), the policy has come into effect from October 15. The DPIIT has done away with press notes and has compiled all policies related to foreign investment into a single document thus making things easier and convenient for the investors.<\/p>\n<p style=\"text-align: justify;\">In a bid to provide investor-friendly framework to foreign entities, the government has granted relaxations in a few sectors such as mining, single brand retailing, digital news, etc. In a big boost to an otherwise dull economy, this year India witnessed a 16 % increase in FDI on a year-to-year basis.<\/p>\n<p style=\"text-align: justify;\">This policy supersedes all circulars\/press notes\/press releases issued by the DPIIT in the past. Dating back to earlier this year, certain restrictions were notified by the government applicable on FDI from overseas citizens or entities hailing from neighbouring countries that share a land border with India including China. These restrictions were placed in an attempt to prevent hostile and opportunistic takeovers of companies whose business might have suffered during the lockdowns imposed in light of the Covid19 pandemic. Now, these restrictions have found their way in the consolidated policy. The basic intent behind these restrictions is to ensure transparency when any investment flows from our neighbouring countries. These provisions are in no way intended to stop any and all probable investment from these countries but are a direct result of the government feeling the need for bringing certain amendments and making the legal framework more stringent and robust.<\/p>\n<p style=\"text-align: justify;\">In a first of its kind in the country, an investment limit of 26 % has been introduced and imposed on FDI in digital media including the likes of web based content. This can be done only via the government approval route.<\/p>\n<p style=\"text-align: justify;\">In a situation where the ownership of any existing or future FDI Investment in an entity in India is transferred directly or indirectly, leading to beneficial ownership then the same would invoke the restrictions stated under para 3.1.1(a) and any such change in ownership would require approval from the government\u2019s end.<\/p>\n<p style=\"text-align: justify;\">Key aspects of the Consolidated FDI Policy, 2020 are:<\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #ff0000;\"><strong>Investment from India\u2019s neighbouring countries<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\">Relevant portion from the policy is reproduced below-<\/p>\n<p style=\"text-align: justify;\"><em>An entity of a country, which shares a land border with India or where the beneficial owner of an investment into India is situated in or is a citizen of any such country \u2013 can invest only under the Government approval route. Further, a citizen of Pakistan or an entity incorporated in Pakistan can invest, only under the Government route. <\/em><\/p>\n<p style=\"text-align: justify;\"><em>No such investment is allowed from Pakistan in defence, space, atomic energy and sectors\/activities that are prohibited for foreign investment.<\/em><\/p>\n<p style=\"text-align: justify;\"><em>In the event of the transfer of ownership of any existing or future FDI in an entity in India, directly or indirectly, results in the beneficial ownership falling within the restriction\/purview of the above \u2013 this will also require Government approval.<\/em><\/p>\n<p style=\"text-align: justify;\"><strong><span style=\"color: #ff0000;\">Investment cap on digital news media<\/span><\/strong><\/p>\n<p style=\"text-align: justify;\">A 26 % cap on FDI has been presented in the segment that covers digital news (transferring or streaming of news), which likewise requires government endorsement. This carries it at standard with the investment cap on newspaper and periodical distributions and the publication of Indian editions of foreign magazines covering news and current affairs, which are likewise dependent upon the government endorsement route.<\/p>\n<p style=\"text-align: justify;\"><strong><span style=\"color: #ff0000;\">Compliance in E-commerce sector<\/span><\/strong><\/p>\n<p style=\"text-align: justify;\">The most recent FDI policy expresses that it is compulsory for e commerce businesses with foreign investment to acquire and keep up a statutory audit report by September 30 consistently for the former financial year, which in turn would indicate their compliance with the country\u2019s legal framework.<\/p>\n<p style=\"text-align: justify;\">The 2020 FDI policy sets out all the recent changes that have been made in terms of e-commerce:<\/p>\n<p style=\"text-align: justify;\">Disallowing an entity related by equity to the web based e-commerce business from doing business on the website portal;<\/p>\n<p style=\"text-align: justify;\">Limiting merchants from purchasing in excess of 25 % of their stock from the platform and its group organizations; and<\/p>\n<p style=\"text-align: justify;\">Exclusive product launches have been banned.<\/p>\n<p style=\"text-align: justify;\">These norms have been in force since the past two years when they were implemented formally.<\/p>\n<p style=\"text-align: justify;\">In this way, e-commerce business elements in India that recieve FDI can just take part in business to business (B2B) e-commerce and not in business to buyer (B2C) e-commerce.<\/p>\n<p style=\"text-align: justify;\"><strong><span style=\"color: #ff0000;\">Investment from Pakistan<\/span><\/strong><\/p>\n<p style=\"text-align: justify;\">The FDI norms remain unchanged for our controversial neighbours. A citizen or entity from Pakistan can invest through the government route in any sector with the exception of defence, space, atomic energy and sectors generally preventing foreign investment.<\/p>\n<p>Read the policy here: FDI POLICY: <a href=\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2020\/11\/FDI-PolicyCircular-2020-28October2020.pdf\">FDI-PolicyCircular-2020-28October2020<\/a><\/p>\n<hr \/>\n<p style=\"text-align: justify;\"><strong><span style=\"color: #000000;\">[1] Consolidated FDI Policy, October 15 2020<\/span><\/strong><\/p>\n<hr \/>\n<p><span style=\"color: #008000;\">Yashvardhan Shrivastav, Editorial Assistant has put this story together<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Foreign Direct Investment (FDI) is considered as a major source of non-debt financial resource for economic development. FDI flows into India have <\/p>\n","protected":false},"author":67011,"featured_media":238430,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,1193],"tags":[33600],"class_list":["post-238428","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legislationupdates","category-notifications","tag-fdi-policy"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.4 (Yoast SEO v26.4) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Foreign Direct Policy (FDI) | Consolidated FDI Policy, 2020: Read the Key Aspects | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.scconline.com\/blog\/post\/2020\/11\/03\/foreign-direct-policy-fdi-consolidated-fdi-policy-2020-read-the-key-aspects\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Foreign Direct Policy (FDI) | Consolidated FDI Policy, 2020: Read the Key Aspects\" \/>\n<meta property=\"og:description\" content=\"Foreign Direct Investment (FDI) is considered as a major source of non-debt financial resource for economic development. 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These are intended to liberalise and simplify the FDI policy so as to provide ease of doing business in the country. In turn, it will lead to larger FDI inflows contributing to growth of\u2026","rel":"","context":"In &quot;Hot Off The Press&quot;","block_context":{"text":"Hot Off The Press","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/hot_off_the_press\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":226522,"url":"https:\/\/www.scconline.com\/blog\/post\/2020\/03\/04\/cabinet-approves-the-foreign-direct-investment-policy-on-civil-aviation\/","url_meta":{"origin":238428,"position":1},"title":"Cabinet approves &#8212; Foreign Direct Investment policy on Civil Aviation","author":"Bhumika Indulia","date":"March 4, 2020","format":false,"excerpt":"To permit foreign investment upto 100% by those NRIs, who are Indian Nationals, in case of M\/s Air India Ltd., the Union Cabinet approved to amend the extant FDI Policy to permit Foreign Investment (s) in M\/s Air India Ltd by NRIs, who are Indian Nationals, upto to 100% under\u2026","rel":"","context":"In &quot;Cabinet Decisions&quot;","block_context":{"text":"Cabinet Decisions","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/cabinet_decisions\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/12\/FDI.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/12\/FDI.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/12\/FDI.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/12\/FDI.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/12\/FDI.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":133521,"url":"https:\/\/www.scconline.com\/blog\/post\/2017\/05\/25\/cabinet-approves-phasing-out-foreign-investment-promotion-board\/","url_meta":{"origin":238428,"position":2},"title":"Cabinet approves phasing out Foreign Investment Promotion Board","author":"Saba","date":"May 25, 2017","format":false,"excerpt":"The Union Cabinet \u00a0has given its approval to the phasing out of Foreign Investment Promotion Board (FIPB). The proposal entails abolishing the FIPB and allowing administrative Ministries\/Departments to process applications for FDI requiring government approval.\u00a0Henceforth, the work relating to processing of applications for FDI and approval of the Government thereon\u2026","rel":"","context":"In &quot;Hot Off The Press&quot;","block_context":{"text":"Hot Off The Press","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/hot_off_the_press\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":52251,"url":"https:\/\/www.scconline.com\/blog\/post\/2016\/06\/20\/government-further-liberalises-fdi-norms\/","url_meta":{"origin":238428,"position":3},"title":"Government further liberalises FDI norms","author":"Sucheta","date":"June 20, 2016","format":false,"excerpt":"The Union Government has radically liberalized the FDI regime today, with the objective of providing major impetus to employment and job creation in India. The decision was taken at a high-level meeting chaired by Prime Minister Narendra Modi today. This is the second major reform after the last radical changes\u2026","rel":"","context":"In &quot;Business Law&quot;","block_context":{"text":"Business Law","link":"https:\/\/www.scconline.com\/blog\/post\/category\/Business_Law\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/05\/indian-airlines.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/05\/indian-airlines.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/05\/indian-airlines.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/05\/indian-airlines.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/05\/indian-airlines.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":229413,"url":"https:\/\/www.scconline.com\/blog\/post\/2020\/05\/13\/fdi-policy-introduction-and-changes\/","url_meta":{"origin":238428,"position":4},"title":"FDI Policy \u2013 Introduction and Changes","author":"Bhumika Indulia","date":"May 13, 2020","format":false,"excerpt":"by Hari Prasad MS*","rel":"","context":"In &quot;Op Eds&quot;","block_context":{"text":"Op Eds","link":"https:\/\/www.scconline.com\/blog\/post\/category\/op-ed\/legal-analysis\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/12\/FDI.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/12\/FDI.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/12\/FDI.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/12\/FDI.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/12\/FDI.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":228467,"url":"https:\/\/www.scconline.com\/blog\/post\/2020\/04\/18\/government-amends-extant-fdi-policy-for-curbing-opportunistic-takeovers-acquisitions-of-indian-companies-in-view-of-covid-19-pandemic\/","url_meta":{"origin":238428,"position":5},"title":"Government amends &#8212; extant FDI policy for curbing opportunistic takeovers\/acquisitions of Indian companies in view of COVID-19 pandemic","author":"Bhumika Indulia","date":"April 18, 2020","format":false,"excerpt":"Government of India has reviewed the extant Foreign Direct Investment(FDI) policy for curbing opportunistic takeovers\/acquisitions of Indian companies due to the current COVID-19 pandemic and amended para 3.1.1 of extant FDI policy as contained in Consolidated FDI Policy, 2017. Department for Promotion of Industry and Internal Trade, Ministry of Commerce\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/238428","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/67011"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=238428"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/238428\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media\/238430"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=238428"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=238428"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=238428"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}