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India Loosens FDI Rules

Relaxes curbs on foreign JV partners

India relaxed rules on foreign direct investment in a bid to reverse a dramatic decline in FDI this year, reports NDTV.

The changes will allow companies to issue equity for the import of foreign capital goods and machinery and remove restrictions that prevented foreign partners in local joint ventures from making similar investments / collaborations "in the same field" without the approval of their JV partners.

The goverment also removed restrictions in the development and production of seeds and planting material, the TV station said.