Practice Area

Foreign Direct Investment

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Overview

Foreign direct investment into India is regulated through a dual framework — the Foreign Exchange Management Act, 1999 administered by the Reserve Bank of India, and the foreign investment policy administered by the Department for Promotion of Industry and Internal Trade. Together, they determine how a foreign investor may invest, how much it may hold, what pricing requirements apply, and when government approval is needed. Navigating this framework requires both precise transactional advice at the deal stage and ongoing compliance management thereafter. Corpus Lawyers advises Indian companies and foreign investors on all aspects of inbound FDI and outbound Indian investment.

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FDI Structuring — Automatic and Government Route

Advisory on structuring of inbound FDI transactions under the automatic route and government route, including sectoral cap analysis, investment instrument selection (equity shares, CCDs, CCPs, ECBs), and pricing compliance with FEMA pricing guidelines.

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FEMA Filings — FC-GPR, FC-TRS, and LLP-I/II

Preparation and filing of FEMA reporting forms with the Reserve Bank of India, including FC-GPR for issue of instruments to non-residents, FC-TRS for transfer of instruments between residents and non-residents, and LLP forms for investments in limited liability partnerships.

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Downstream Investment Analysis

Analysis of downstream investment compliance for companies with foreign investment, including determination of foreign-owned or controlled company status, compliance with sectoral caps in downstream investments, and advisory on indirect foreign investment structures.

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Government Approval Route — DPIIT and FIPB Successor Processes

Advisory on and management of government approval applications for FDI in sectors requiring prior approval, including preparation of application documentation, liaison with DPIIT, and management of sector-specific ministry approvals.

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Outbound Indian Investment (ODI)

Advisory to Indian companies and residents on outbound investments under the Overseas Direct Investment framework, including ODI structuring, RBI filing requirements, and management of overseas JVs and wholly owned subsidiaries.

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FEMA Compounding

Advisory and representation in FEMA compounding proceedings before the Reserve Bank of India for contraventions of reporting and other FEMA obligations — including preparation of compounding applications and management of the compounding process.