The Centre had approved a 60-day deadline for clearing investment proposals from land bordering countries. (Reuters)A rejig in India’s foreign direct investment (FDI) policy earlier this year has attracted offshore investment proposals worth Rs 4,895.65 crore till August 20, the Ministry of Commerce and Industry said on Friday.In March, the government had allowed foreign entities with non-controlling beneficial ownership from land bordering countries of up to 10% to invest in India.“A total of 29 FDI investments have been reported under the revised framework up to August 20, 2026, involving proposed FDI of Rs 4,895.65 crore. These investments span a range of sectors, including information technology, artificial intelligence, information & communication, manufacturing, pharmaceuticals, data centres and transport services, among others,” the Commerce and Industry Ministry on Friday said.The ministry said that the 29 investments have been “reported by investors/entities” based in jurisdictions including Mauritius, the United States, the Republic of Korea, Japan, Singapore, Luxembourg and the Cayman Islands.Earlier, foreign investors with beneficial ownership from land-bordering countries (LBCs) of India were required to obtain prior government approval under Press Note 3 (PN3) of 2020, even where such LBC ownership was very small.The government also approved a 60-day deadline for clearing investment proposals from LBCs, including China, for capital goods, electronic capital goods, electronic components, polysilicon and ingot-wafer for solar cells.Under the revised investment norms, the majority shareholding and control of the investee entity will be with resident Indian citizen(s) and/or resident Indian entity(ies) owned and controlled by resident Indian citizen(s), at all times, an official release of the Cabinet decision had said.Story continues below this adIndia had imposed restrictions on investments from China through PN3 in April 2020, making government approval mandatory for investments from countries sharing a land border with India.The move was aimed at preventing opportunistic takeovers during the Covid-19 pandemic and had remained in force amid heightened national security concerns following the Galwan clash later that year.The PN3 was primarily meant for Chinese investors, as entities of Bangladesh and Pakistan can invest only under the government route, while investments from other bordering countries such as Nepal, Myanmar, Bhutan, and Afghanistan are very small as a share of India’s total foreign investment inflows.In one of the first major approvals to Chinese investment in a strategic sector, the Centre in July had cleared a joint venture between Dixon Technologies (India) Limited and Vivo Mobile India Limited (VMI) for manufacturing electronic devices and smartphones inthe country, a BSE (Bombay Stock Exchange) filing showed.Story continues below this adThe finance ministry in July had also allowed four Chinese power equipment manufacturing companies with factories in Indiato participate in government tenders for critical power projects.The four firms — TBEA Energy, Nanjing Electric India, New Northeast Electric India and Taikai Electric (India) — have been exempted from the provisions of the public procurement rules, which require entities from countries sharing a land border with India to register with the relevant Indian authority to be eligible to bid in the procurement of goods, services or works.All four firms manufacture key power sector equipment such as transformers, wires, high-voltage switchgear and gas-insulated switchgear, which are used in transmission lines. On its website, New Northeast Electric India shows at least 11 transmission line projects across India.Ravi Dutta Mishra is a Principal Correspondent with The Indian Express, specializing in economic policy and financial regulations. With over five years of experience in business journalism, he provides critical coverage of the frameworks that govern India's commercial landscape. Expertise & Focus Areas: Mishra’s reporting concentrates on the intersection of government policy and market operations. His core beats include: Trade & Commerce: Analysis of India's import-export trends, trade agreements, and commercial policies. Banking & Finance: Covering regulatory changes and policy decisions affecting the banking sector. Professional Experience: Prior to joining The Indian Express, Mishra built a robust portfolio working with some of India's leading financial news organizations. His background includes tenures at: Mint CNBC-TV18 This diverse experience across both print and broadcast media has equipped him with a holistic understanding of financial storytelling and news cycles. Find all stories by Ravi Dutta Mishra here ... Read More Tags:foreign direct investment