What is Indias policy on investment by Non-Resident Indians (NRI) and Overseas Corporate Bodies (OCB)?
Investments by NRIs and OCBs in which the NRIs hold at least 60 percent equity are treated as Foreign Direct Investment (FDI’). For all sectors excluding those falling under government approval, NRIs and OCBs are allowed to bring investment through the automatic route under the Reserve Bank of India (RBI’). Other proposals require approval from the government through a special cell called Foreign Investment Promotion Board (FIPB’).
