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of <h1>India Amends FDI Policy: Downstream Investments by Non-Resident Controlled Banks Clarified, Excludes Certain Restructuring, Includes Strategic Investments.</h1> The Government of India has amended the 'Circular 1 of 2012-Consolidated FDI Policy' regarding downstream investments by Indian banking companies owned or controlled by non-residents. A new note specifies that such investments made under Corporate Debt Restructuring, loan restructuring mechanisms, trading books, or share acquisitions due to loan defaults will not be considered indirect foreign investment. However, 'strategic downstream investments' in subsidiaries, joint ventures, and associates will count as indirect foreign investment. This amendment is effective immediately and aims to clarify the calculation of foreign investments in these contexts.
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