India simplifies rules to facilitate overseas investment

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India simplifies rules to facilitate overseas investment

The Indian Ministry of Finance has simplified regulations to accelerate procedures for the growing investments by Indians in overseas property markets and other assets by Indian companies abroad.

The UAE is a popular location for such private and business investments. In Dubai’s real estate sector, Indians rank among the top investors.

The simplified rules were implemented and published in the Gazette of India yesterday.

The Finance Ministry explained the adjustments, stating, “Given the evolving needs of businesses in India, in an increasingly integrated global market, there is a need of Indian corporates to be part of global value chain.”

“The revised regulatory framework for overseas investment provides for simplification of the existing framework for overseas investment and has been aligned with the current business and economic dynamics. The Government of India in consultation with the Reserve Bank undertook a comprehensive exercise to simplify these regulations.”

The Ministry explained that the “existing regulations pertaining to overseas investments and acquisition and transfer of immovable property outside India have been subsumed within these rules and regulations,” in light of the rising number of Indians investing in real estate in foreign markets like the UAE.

The Gazette notification emphasized that transactions relating to foreign investments previously required approval from the Indian government. Now, it can be transacted automatically and at will.

The revisions will “significantly enhance Ease of Doing Business” with India, according to the Ministry. BKM/ Expat Media


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