Mint Primer | How significant is the easing of Press Note 3?
What is Press Note 3 on FDI? In April 2020, the government issued Press Note 3 which mandated that any foreign direct investment (FDI) by firms based in countries sharing India’s land borders needed prior government nod on a case-by-case basis. The countries included China, Nepal, Bangladesh, Pakistan, Bhutan, Myanmar and Afghanistan. This was done…