India has revved up its economic engines to attract more
foreign direct investment (FDI) through a host of new
regulatory measures, but many have created confusion over
Last November the Cabinet Committee on Economic Affairs
moved to ease restrictions on foreign ownership and investment
in 15 major sectors, such as defence, insurance and rail
But as speakers at IFLR’s Asia M&A Forum
held in Hong Kong on March 3 revealed, the new rules have
received a mixed reception.
"There are a lot of questions about what 'Indian-owned and
controlled' means, with insurance companies being required to
align governance arrangement to comply with foreign ownership
Mohit Saraf, senior partner at Luthra & Luthra in
Speakers on the M&A panel argued that,...