(a) whether information regarding relaxation and concessions given to the Non-Resident Indians (NRIs) is not maintained at the central level;
(b) if so, the details thereof;
(c) the manner in which the Government formulates strategy for the NRIs to invest in India in the absence of said information; and
(d) the corrective steps taken by the Government in this regard and the outcome thereof?
???????? ??? ?????? ?????? (???? ????? ????)
THE MINISTER OF COMMERCE & INDUSTRY
(SHRI PIYUSH GOYAL)
(a) & (b): Information in respect of relaxation and concessions given to the Non-Resident Indians (NRIs) is not centrally maintained.
(c) & (d): Government has put in place an investor-friendly policy under which Foreign Direct Investment (FDI) up to 100% is permitted under the automatic route in most sectors/activities including investments from Non-Resident Indians (NRIs). FDI Policy is reviewed on an ongoing basis, with a view to make it more investor friendly, including for NRIs. Further, changes are made in the FDI policy after having consultations with stakeholders including concerned Ministries/Departments, State Governments, Apex Industry Chambers, Associations and other organizations, taking into consideration their views/comments.
The extant FDI policy allows special dispensation for NRI investments in various sectors such as Construction Development, Civil Aviation etc. Further, investments made under Schedule IV of FEMA (Non-Debt Instruments) Rules, 2019 on non-repatriation basis by NRIs, Overseas Citizens of India (OCIs) and Companies, Trusts and Partnership Firms incorporated outside India and owned by such NRIs and OCIs are deemed to be domestic investment at par with investment made by residents.
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