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No country should have any concern over India's new FDI policy: Govt sources

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NEW DELHI : No country should have any concern over India's new policy for foreign direct investment from specific nations, government sources said on Thursday, in a clear message to China which strongly objected to the fresh norms for FDI.

Around a week ago, India made prior clearance mandatory for foreign investments from countries that share land border with India to curb "opportunistic takeovers" of domestic firms in the wake of economic downturn triggered by the coronavirus pandemic.

India's decision to tighten norms for FDI came amid reports of China eyeing to take over several Indian entities following fall in their valuation due to economic downturn in the wake of the pandemic.

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