Exclusive-India considers expanded measures to boost strategic foreign investment from 5-year lows

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NEW DELHI : The Indian government is considering expanded measures to allow greater flexibility for strategic foreign investors to buy stakes in local companies after offshore investment slumped to a five-year low, three sources with knowledge of the matter said.

FILE PHOTO: Indian Finance Minister Nirmala Sitharaman speaks to the Economic Club of New York in New York City, U.S., October 21, 2024. REUTERS/Brendan McDermid/File Photo

The plan to allow use of instruments that are a mix of equity and debt, often termed as"mezzanine instruments" in market parlance, are part of a government plan to shore up foreign direct investment into India, the sources said, declining to be identified as they are not allowed to speak to the media.

The proposal to further expand foreign investment options could lead to an additional $20-30 billion in overseas inflows into the South Asian economy, according to internal estimates, said one of the three sources. The government estimates didn't provide a timeline for the potential investment boost, the source said.

Companies are currently allowed to raise equity or securities that are compulsorily convertible to equity under the FDI rules, where caps are imposed on foreign investment for some sectors such as banking and defence.

 

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