Out of Rs 1 lakh cr worth of FDI proposals from nations sharing land border with India, half is cleared: Official

The government has received FDI proposals worth about Rs one lakh crore from countries sharing land border with India since April 2020. Half of these proposals have been cleared so far, while the remaining are pending, withdrawn, or rejected. To curb opportunistic takeovers, the government made prior approval mandatory for foreign investments from these countries. An inter-ministerial committee is scrutinizing the pending proposals, which include sectors like manufacturing, software, trading, and e-commerce. https://ift.tt/tXkZiMJ