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of <h1>New Rules Limit Overseas Direct Investments to 100% of Net Worth; Exceptions for Oil Sector PSUs.</h1> The circular addresses changes to the regulations on Overseas Direct Investments (ODI) under the Foreign Exchange Management Act, 1999. The limit for ODI by Indian entities in Joint Ventures and Wholly Owned Subsidiaries abroad is reduced from 400% to 100% of the net worth under the Automatic Route. Investments exceeding this limit require approval from the Reserve Bank of India. Exceptions are made for certain public sector undertakings in the oil sector, which can continue investing without limits. These changes are effective immediately and apply to new ODI proposals, while existing setups remain unaffected. Amendments to relevant notifications are forthcoming.
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