INVESTMENT BY NRIs
Date : 20 Dec 2004
Location : New Delhi
Non Resident Indians can make capital investments under the FDI scheme and 100 % investment is permitted in most sectors on the automatic route. In addition, the FDI policy allows additional opportunities for the NRIs in real estate, housing and domestic airlines sectors. They can also invest under the Portfolio Investment Scheme in shares and debentures of Indian companies on non repatriation basis.
For investments and projects undertaken by Indian companies abroad, the Overseas Investment Insurance Scheme operated by the Export Credit Guarantee Corporation Ltd (ECGC) provides protection for risks of war, expropriation and restriction on remittances. Investments by way of equity capital and loans taken for the expansion of overseas projects are covered under this scheme.
This was stated by Shri E.V.K.S. Elangovan, Minister of State for Commerce & Industry, in a written reply in the Rajya Sabha today.