<h1>India Updates FDI Policy: NRIs, including OCIs and PIOs, now classified as domestic investors for non-repatriable investments.</h1> The Union Cabinet of India has approved amendments to the Foreign Direct Investment (FDI) policy concerning investments by Non-Resident Indians (NRIs), Persons of Indian Origin (PIOs), and Overseas Citizens of India (OCIs). The revised policy now considers investments by NRIs on a non-repatriable basis as domestic investments, aligning them with investments made by residents. The definition of NRIs has been expanded to include OCI and PIO cardholders. These changes aim to encourage increased investment and economic growth by providing clarity and parity in the FDI policy, facilitating greater foreign exchange inflow.