MUMBAI : China's top tech companies such as Alibaba and Tencent have been investing millions of dollars in Indian startups.
But these are likely to slowdown after the new Foreign Direct Investment (FDI) policy which has dropped fresh investments from India's neighbours from automatic approval list, which includes China.
Not only this transfer of ownership in existing FDI will also require government nod. Thereby meaning that exits from deals and investments which results in change of beneficial ownership would also require a government nod.
The latest move is part of a series of steps that the government has taken since the start of this week after Housing Development Finance Corp.