(a) whether any relaxation is being given to the Non-Resident Indians (NRIs) for making investments in India;
(b) if so, the details thereof, including the pre-conditions for the said relaxation;
(c) the total number of NRIs who have been given relaxation during each of the last three years; and
(d) the amount of investments made as a result of the relaxation, including the places where the investments have been made?
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THE MINISTER OF COMMERCE & INDUSTRY
(SHRI PIYUSH GOYAL)
(a) to (d): A Statement is laid on the Table of the House.
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STATEMENT REFERRED TO IN REPLY TO LOK SABHA STARRED QUESTION NO. 335 FOR ANSWER ON 11.12.2019.
(a) & (b): Government has put in place an investor-friendly policy under which FDI up to 100% is permitted under the automatic route in most sectors/activities including investments from Non-Resident Indians (NRIs). Foreign Direct Investment (FDI) policy is reviewed on an ongoing basis, with a view to making it more investor friendly, including for NRIs.
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, 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.
(c) & (d): Information in respect of concessions/exemptions given to the NRIs is not centrally maintained. Further, place-wise detail of investment by Non-Resident Indians (NRIs) in India is not maintained. However, the total investment made by NRIs on repatriation basis in Indian companies along with the total FDI equity inflow reported in the country is annexed.
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