Investment Policy Monitor
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The Investment Policy Monitor provides the international investment community with up-to-date, country-specific information on recent policy developments affecting foreign direct investment (FDI).
Through its ongoing monitoring of investment policy changes, UNCTAD delivers cutting-edge and forward-looking contributions to investment policy discourse. The Monitor also supports evidence-based policymaking aimed at ensuring that foreign investment contributes to sustainable development. The Monitor also informs the analysis of global and regional investment policy trends featured in the World Investment Report, the Investment Policy Monitor publications and the joint UNCTAD-OECD Reports on G20 Investment Measures.
UNCTAD has tracked changes in national policies affecting FDI on an annual basis since 1992. Over time, the methodology has been revised to enhance the quality and consistency of reporting. The most recent revision, completed in 2024, further refined the monitoring framework and applied the updated classification to policy measures dating back to 2012.
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UNCTAD Investment Policy Monitor The UNCTAD Investment Policy Monitor database compiles official measures affecting FDI adopted by United Nations Member States. These encompass measures explicitly targeting foreign investment (FDI-specific), as well as general investment measures that have a clear impact on such investment (FDI-related).
The measures are either reported directly to UNCTAD by Member States through annual surveys or identified by UNCTAD researchers through publicly accessible sources (such as government websites and specialized policy databases).
The classification of measures as more or less favourable to investors is based solely on their potential impact on investors. The type of measures included in each category are described below. This classification does not reflect any value judgement by UNCTAD on the merit or suitability of the measure.
Classification of the nature of measures
More favourable to investors
Liberalization: includes privatization; lifting of entry restrictions (e.g. opening of sectors to FDI) and entry conditions (e.g. minimum capital requirement); removal (total or partial) of FDI screening or approval mechanisms; lifting of foreign exchange restrictions; liberalization of land access.
Facilitation: includes streamlining of investment procedures (e.g. one-stop shops); greater transparency of investment-related laws and procedures (e.g. information portals); introduction by IPAs and other entities of new services to assist investors (e.g. linkages programmes, investor visa facilitation or alternative dispute resolution mechanisms).
Promotion: includes establishment of IPAs or other institutions with a remit as investment promoters and expansion of their mandate; adoption of investment promotion strategy and plans; introduction of PPPs, auctions, and concessions initiatives or framework; introduction of OFDI promotion initiatives.
Incentives: includes adoption of new tax and financial incentives schemes for investment; introduction of other incentives (e.g. citizenship by investment programmes); adoption of new SEZ-related incentives.
Other regulatory changes: includes enhancement of investor treatment and protection guarantees; easing of labour or migration regulations concerning foreign hires and key personnel; removal of operational restrictions on investment (e.g. local content requirements).
Less favourable to investors
Entry: includes introduction or tightening of entry restrictions (e.g. total or partial ban on FDI in specific sectors); introduction or tightening of entry conditions (e.g. minimum investment threshold, joint venture requirements or State participation in strategic sectors); introduction or expansion of screening mechanisms for national security.
Treatment and operation: includes introduction or expansion of foreign exchange restrictions; introduction or expansion of restrictions on foreign hires and key personnel; removal or reduction of investment incentives; introduction or expansion of post-establishment requirements for local content; reduction of guarantees for investment treatment and protection; introduction or expansion of restrictions on OFDI.
Note: Measures are verified, to the fullest extent possible, by referencing government sources. The compilation of measures is not exhaustive.
Disclaimer: the boundaries and names shown and the designations used on this map do not imply official endorsement or acceptance by the United Nations.
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Investment Policy Measures
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India
16 Aug 2024Cuts corporate income tax rate for foreign companies
On 16 August 2024, the Government of India announced amendments to its Finance Act. Key provisions include a reduction in the corporate income tax rate for foreign companies and their branches from 40% to 35%. This change is retroactively [...]
India
15 Mar 2024Introduces incentives for Electronic Vehicles (EV) infrastructure development to boost FDI
On 15 March 2024, the Government of India approved the Scheme for Manufacturing of Electric Cars (SMEC), which offers concessional import duties to automakers that establish new greenfield electric vehicle manufacturing facilities. [...]
India
21 Feb 2024Allowed up to 100 per cent FDI in the space sector
On 21 February 2024, the Union Cabinet of India allowed up to 100 per cent FDI through the automatic route in its space sector to lower entry barriers for foreign players, fostering a more inclusive environment for international investments, [...]
India
31 Oct 2023Uttar Pradesh introduces a new FDI policy to attract overseas investors
On 31 October 2023, the Government of Uttar Pradesh introduced the new foreign direct investment policy to provide incentives to overseas investors, including exemptions in land acquisition, stamp duty, and capital investment. The [...]
India
23 Aug 2023Reduced the minimum capital requirement for branches of foreign reinsurance companies
On 23 August 2023, the Insurance Regulatory and Development Authority of India (Insurance) (Amendment) Regulation 2023 entered into force. The Regulation aims to harmonise the regulatory regime applicable to insurance and reinsurance [...]
India
13 Mar 2023Permits foreign lawyers and law firms to practice in India
On 13 March 2023, the Bar Council of India issued the “Bar Council of India Rules for Registration and Regulation of Foreign Lawyers and Foreign Law Firms in India, 2022”. Under these rules, foreign lawyers and law firms are permitted [...]
India
10 Mar 2023Over-the-top platforms not covered by the 26 per cent FDI cap
On 10 March 2023, the Ministry of Information and Broadcasting (MIB) issued a clarification on whether the Foreign Direct Investment (FDI) Policy of the Government of India is applicable to Over-the-Top (OTT) platforms hosting digital [...]
India
02 Oct 2022Promotes foreign investment in the township projects in Uttar Pradesh.
On 2 October 2022, the Housing Department of Uttar Pradesh (UP) announced the new township policy of the Yogi government. Under the new township policy, developers can invest 100% in the township under the FDI policy and will be given [...]
India
01 Jul 2022Adopts windfall profit tax on oil producers and refiners
On 1 July 2022, the Government of India adopted a windfall tax on the country's oil producers and oil refiners who are exporting more due to the high international price of crude oil and refined products. The windfall tax, in the form [...]
India
01 Jun 2022Restricts backdoor entry of foreign investors from neighbouring countries
On 1 June 2022, the Government of India announced that any national from a country that shares a land border with the country (China, Bangladesh, Pakistan, Bhutan, Nepal, Myanmar) must seek security clearance from the Ministry of Home [...]
India
26 Feb 2022Allows 20 per cent foreign participation in the Life Insurance Corporation ahead of listing
On 26 February, 2022, India's Cabinet approved a policy amendment allowing FDI of up to 20% in Life Insurance Corporation of India (LIC). The change is aimed at easing the listing of the State-run insurer. Until this amendment, even [...]
India
06 Oct 2021100% foreign participation in the Telecoms sector now allowed via the Automatic Route
On October 7 2021, the Government of India announced that it would allow 100% foreign participation in the telecom services industry, including all telecom services and infrastructure providers, through the Automatic Route. Under [...]
India
22 Sep 2021Launches national single window system to improve ease of doing business
On 22 September 2021, the Government of India launched the National Single-Window System for investors and businesses. The portal will integrate the existing clearance systems of the Central Departments and of the States and will become [...]
India
22 Mar 2021Increased FDI ceiling in insurance companies
On 22 March 2021, Indian Parliament passed the bill to increase FDI ceiling in insurance companies to 74 percent from the existing cap of 49 percent. The announcement was first made by the Finance Minister on 1 February 1 2021, as [...]
India
16 Oct 2020Clarifying FDI Policy related Digital Media
On 16 October 2020, the Ministry of Commerce and Industry issued a Clarification on FDI Policy for uploading/streaming of new and current affairs through Digital Media. Accordingly, entities engaged in uploading / streaming of news [...]
India
15 Oct 2020Releasing Consolidated FDI Policy Circular of 2020
On 28 October 2020, Ministry of Commerce and Industry released the Consolidated FDI Policy Circular of 2020. According to the circular, the Consolidated FDI Policy is effective from 15 October 2020. The previous Consolidated FDI Policy [...]
India
17 Sep 2020Increasing FDI ceiling in the defense sector to 74 per cent via automatic route
On 17 September 2020, the government of India announced a revision of the rules on FDI in the defence sector. While 100% foreign ownership in the sector is allowed as previously, ownership of up to 74% is now allowed under the automatic [...]
India
17 Apr 2020Introduces FDI screening originating from neighbouring countries amid the COVID-19 pandemics
On 17 April 2020, the Government of India reviewed its Foreign Direct Investment policy for "curbing opportunistic takeovers/acquisitions of Indian companies due to the current COVID-19 pandemic" and decided to introduce the so-called [...]
India
12 Mar 2020Parliament passed a new Mineral Law
On 12 March 2020, The Indian Parliament passed the Mineral Laws (Amendment) Bill, 2020, amending the Mines & Mineral (Development and Regulation) Act 1957 and the Coal Mines (Special Provisions) Act, 2015. The amended provisions [...]
India
04 Mar 2020Government allows non-resident Indians to own a 100% stake in Air India
On 4 March 2020, the Union Cabinet approved an amended Foreign Direct Investment (FDI) policy on civil aviation, permitting non-resident Indian nationals (NRIs) to own up to 100% of the stakes of Air India under the automatic route. [...]
India
27 Feb 2020Foreign single brand retailers can source from SEZs to satisfy FDI requirements
On 27 February 2020, the Ministry of Commerce and Industry published a clarification that single brand retailers, owned by foreign companies, can fulfill their local sourcing requirements by procuring goods produced in units based [...]
India
18 Sep 2019Liberalization of FDI Rules
Several changes to India’s foreign direct investment policy were brought by Press Note 4, dated 18 September 2019. These changes abolish foreign equity caps in coal and lignite mining activities, contract manufacturing, single brand [...]
India
02 Sep 2019Relaxation of Foreign Investment Limits in the Insurance Sector
On 2 September 2019, the Ministry of Finance notified the Indian Insurance Companies (Foreign Investment) Amendment Rules 2019, which effectively abolished the existing ownership ceilings for FDI in insurance intermediaries. [...]
India
01 Feb 2019New FDI rules for e-commerce
Effective from 1 February 2019, the Government of India introduced several changes in its FDI policy for e-commerce. The new rules are reported to aim at safeguarding the interests of offline retailers. The key changes, among others, [...]
India
21 Jan 2019India eases requirements for foreign investment in certain sectors
According to a notification by the Reserve Bank of India (RBI) on 21 January 2019, foreign companies in defence, telecom, information and broadcasting, and private security services will not require the RBI's approval to open branch [...]
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The Investment Policy Monitor provides the international investment community with up-to-date, country-specific information on recent policy developments affecting foreign direct investment (FDI).
Through its ongoing monitoring of investment policy changes, UNCTAD delivers cutting-edge and forward-looking contributions to investment policy discourse. The Monitor also supports evidence-based policymaking aimed at ensuring that foreign investment contributes to sustainable development. The Monitor also informs the analysis of global and regional investment policy trends featured in the World Investment Report, the Investment Policy Monitor publications and the joint UNCTAD-OECD Reports on G20 Investment Measures.
UNCTAD has tracked changes in national policies affecting FDI on an annual basis since 1992. Over time, the methodology has been revised to enhance the quality and consistency of reporting. The most recent revision, completed in 2024, further refined the monitoring framework and applied the updated classification to policy measures dating back to 2012.
-
UNCTAD Investment Policy Monitor The UNCTAD Investment Policy Monitor database compiles official measures affecting FDI adopted by United Nations Member States. These encompass measures explicitly targeting foreign investment (FDI-specific), as well as general investment measures that have a clear impact on such investment (FDI-related).
The measures are either reported directly to UNCTAD by Member States through annual surveys or identified by UNCTAD researchers through publicly accessible sources (such as government websites and specialized policy databases).
The classification of measures as more or less favourable to investors is based solely on their potential impact on investors. The type of measures included in each category are described below. This classification does not reflect any value judgement by UNCTAD on the merit or suitability of the measure.
Classification of the nature of measures
More favourable to investors
Liberalization: includes privatization; lifting of entry restrictions (e.g. opening of sectors to FDI) and entry conditions (e.g. minimum capital requirement); removal (total or partial) of FDI screening or approval mechanisms; lifting of foreign exchange restrictions; liberalization of land access.
Facilitation: includes streamlining of investment procedures (e.g. one-stop shops); greater transparency of investment-related laws and procedures (e.g. information portals); introduction by IPAs and other entities of new services to assist investors (e.g. linkages programmes, investor visa facilitation or alternative dispute resolution mechanisms).
Promotion: includes establishment of IPAs or other institutions with a remit as investment promoters and expansion of their mandate; adoption of investment promotion strategy and plans; introduction of PPPs, auctions, and concessions initiatives or framework; introduction of OFDI promotion initiatives.
Incentives: includes adoption of new tax and financial incentives schemes for investment; introduction of other incentives (e.g. citizenship by investment programmes); adoption of new SEZ-related incentives.
Other regulatory changes: includes enhancement of investor treatment and protection guarantees; easing of labour or migration regulations concerning foreign hires and key personnel; removal of operational restrictions on investment (e.g. local content requirements).
Less favourable to investors
Entry: includes introduction or tightening of entry restrictions (e.g. total or partial ban on FDI in specific sectors); introduction or tightening of entry conditions (e.g. minimum investment threshold, joint venture requirements or State participation in strategic sectors); introduction or expansion of screening mechanisms for national security.
Treatment and operation: includes introduction or expansion of foreign exchange restrictions; introduction or expansion of restrictions on foreign hires and key personnel; removal or reduction of investment incentives; introduction or expansion of post-establishment requirements for local content; reduction of guarantees for investment treatment and protection; introduction or expansion of restrictions on OFDI.
Note: Measures are verified, to the fullest extent possible, by referencing government sources. The compilation of measures is not exhaustive.
Disclaimer: the boundaries and names shown and the designations used on this map do not imply official endorsement or acceptance by the United Nations.
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