New rules for foreign direct investment take away any indirect holdings foreigners can have in the Indian-controlled firms they invest in
The new foreign direct investment (FDI) norms, announced by the UPA government, has opened a can of worms. They allow foreign investment to enter restricted sensitive sectors through a circuitous route, and to beat sectoral caps in areas like telecom, aviation and the media, said experts. Unless, of course, the detailed guidelines, yet to be issued by the government, address some of these concerns.
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