Consolidated FDI policy document released.
India’s Consolidated FDI Policy 2017 has been notified by the DIPP (GOI) applicable w.e.f. 28th August, 2017, which subsumes and supersedes all Press Notes/ Press Releases/ Clarifications/ Circulars issued by it so far. New FDI Policy 2017 of India will remain in force until superseded in totality or in part thereof. Reference to any statute or legislation made in this Circular shall include modifications, amendments or re-enactments thereof.
Notwithstanding the rescission of earlier Press Notes/ Press Releases/ Clarifications/ Circulars, anything done or any action taken or purported to have been done or taken under the rescinded Press Notes/ Press Releases/ Clarifications/ Circulars prior to August 28, 2017, shall, in so far as it is not inconsistent with those Press Notes/ Press Releases/ Clarifications/ Circulars, be deemed to have been done or taken under the corresponding provisions of this circular and shall be valid and effective.
Updated 2017 version of FDI Policy incorporates and consolidates the law relating to FDI in India. This policy document has been issued by DIPP with an objective that foreign investors can understand Government’s policies in the matter of FDI in a simple manner, so that FDI in India can get a boost for overall betterment of Economy, GDP, etc.
It may be noted that India’s FDI Policy has first time included provisions relating to startups/ startup companies. These have been separately addressed in the FDI Policy 2017 as ‘eligible entities’ and relevant provisions have been spelled out for raising FDI from VCF, etc.
August 30th, 2017