India may ease rules for non-Chinese investment from Hong Kong – Business News

India may ease rules for non-Chinese investment from Hong Kong – Business News

India could ease investigations into deals by Hong Kong-based investors unless Chinese firms are involved in the transaction, people familiar with the case said.

The proposals under consideration include making it compulsory for the beneficial owners of land border sharing countries with India to seek government permission to acquire more than 10% stake in any local firm, the people said, according to the rules. Citing should not be identified. He said that the discussion is on preliminary stage.

Prime Minister Narendra Modi’s administration is formalizing investment rules for neighboring countries amid bloody border deadlock with China earlier this year. This has led to 140 proposals totaling more than $ 1.75 billion, including those from China and Hong Kong, delaying deal-making and complaining to investors.

The approval process is expected to accelerate and bring much-needed clearances for private equity firms and hedge funds and companies looking for foreign capital, as they are facing an epidemic amid economic crises.

A call to a spokesman for the Ministry of Trade and Industry was not immediately answered.

With the worst military crisis with China since the war in 1962 – India has taken steps like banning Chinese apps, tightening visa rules for Chinese citizens and banning companies from countries. Limitation from bidding for government contracts

All investment proposals will be subject to security clearance for political approval and home affairs guidelines for the Ministry of External Affairs.

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