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of <h1>New Guidelines for Foreign Investment in Indian Companies: Approval Needed for Sectors with Caps like Defense and Telecom.</h1> The guidelines address the transfer of ownership or control of Indian companies in sectors with foreign investment caps from resident Indian citizens to non-resident entities. Transfers involving sectors like defense, air transport, and telecommunications require government approval. Definitions clarify terms like 'resident Indian citizen,' 'non-resident entity,' and 'Indian company.' Ownership and control are determined by equity interest and board appointment power. Foreign investments include FDI and other financial instruments. These guidelines modify previous policies and apply only to sectors with investment caps, effective from the date of issuance.
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