<h1>India Updates FDI Policy: LLPs Now Eligible for Investment with Restrictions in Specific Sectors. Approval Required for Company Conversion.</h1> The Government of India has revised its Foreign Direct Investment (FDI) policy to allow FDI in Limited Liability Partnership (LLP) firms under specific conditions. FDI is permitted through the government approval route for LLPs in sectors where 100% FDI is allowed automatically, without performance-related conditions. LLPs with FDI cannot operate in agriculture, print media, or real estate, nor can they make downstream investments. Foreign Institutional Investors and Venture Capital Investors are restricted from investing in LLPs, which also cannot access External Commercial Borrowings. Compliance with these conditions is mandatory, and conversion of companies with FDI into LLPs requires prior approval.