ANNOUNCEMENT 23 Mar 2016In March 2016, the government of India announced changed rules for foreign investors.
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Press Note No. 2 (2016 series) - Department of Industrial Policy & Promotion
On 23 March 2016, the Indian Ministry of Commerce & Industry liberalized the FDI policy in the Pension sector by allowing automatic approval for consolidated foreign investments up to 49% of the equity capital of the pension fund. Earlier automatic approval was capped at 26% of the equity and investments above 26% and up to 49% required express approval from the government.
The FDI limit has been kept unchanged for the insurance sector at 49%.