Indian government amends foreign exchange rules, simplifying cross-border share swaps and enabling 100% FDI in white-label ATMs.
The Indian government has announced key amendments to its foreign exchange rules, aiming to simplify cross-border share swaps, enable FDI in white-label ATMs, and streamline key definitions. The changes include harmonizing the definition of a start-up company, allowing 100% FDI in white-level ATMs, and aligning the treatment of OCI-owned entities with NRI-owned entities. These amendments aim to facilitate global expansion of Indian companies through mergers, acquisitions, and strategic initiatives, and foster a foreign investor-friendly climate.
August 16, 2024
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