Out of Rs 1 trn worth of FDI proposals from bordering nations, half cleared

The government has received foreign direct investment (FDI) proposals worth about Rs one lakh crore since April 2020 from countries sharing land border with India and half of those applications have been cleared so far, a top official said.
The remaining are either pending or withdrawn or rejected by the government.
In April 2020, the government came out with a press note under which the Centre made its prior approval mandatory for foreign investments from countries that share land border with India to curb opportunistic takeovers of domestic firms following the COVID-19 pandemic.
Countries which share land borders with India are China, Bangladesh, Pakistan, Bhutan, Nepal, Myanmar and Afghanistan.
As per that decision, FDI proposals from these countries need government approval for investments in India in any sector.
After that press note, “proposals worth about Rs one lakh crore have come in and in that, 50 per cent have been cleared and the rest are either pending or withdrawn o