However, greenfield investments will not be impacted," said Santosh Pai, a partner at Indian law firm Link Legal that advises several Chinese companies. Australia has also said all foreign investment proposals will be assessed by a review board during the coronavirus crisis to prevent a fire sale of distressed corporate assets. A February report by research group Gateway House said Chinese foreign direct investment into India stood at $6.2 billion. Delano Furtado, a partner with law firm Trilegal, said the notification may also impact Chinese companies with existing investments in the country. India's notification also said government approval would also be needed to change the ownership of an Indian entity that had existing foreign investment.

Source: bd News24 April 18, 2020 12:45 UTC