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Govt scrutinizing FDI in infra in strategic areas

A comprehensive review has been undertaken by government agencies & RBI to assess the control over telecom & infrastructures at strategic locations and border areas of the country. The central bank is also examining the need for greater scrutiny of the FDI coming through the automatic route where companies are only required to inform the regulator about the fund flow within a stipulated time.

Recently, Commerce and Industry Minister Piyush Goyal stated that “When we took the stand not to be a part of RCEP (Regional Comprehensive Economic Partnership), one of the major stumbling blocks was also the fact that our businesses in the areas of our strength do not get an equal and fair opportunity when it comes to engaging with contracts or businesses in other geographies.”