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of <h1>India Expands 'Control' Definition in FDI Policy to Include Management Influence and Voting Rights, Effective Immediately.</h1> The Government of India has amended the definition of 'control' in its Foreign Direct Investment policy. Previously, a company was considered controlled by resident Indian citizens if they could appoint a majority of its directors. The revised definition expands 'control' to include the right to appoint a majority of directors or to influence management or policy decisions through shareholding, management rights, shareholder agreements, or voting agreements. This change is effective immediately, as per the Press Note No. 4 (2013 Series) issued by the Ministry of Commerce & Industry, Department of Industrial Policy & Promotion.
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