The year 2020 saw many procedural changes in response to COVID-19 pandemic and some key developments under the Foreign Direct Investment (FDI) Policy, Companies Act, 2013 and Foreign Contribution (Regulation) Act, 2010. This update summarizes some of these developments along with our expectations for the year ahead.
THE YEAR THAT WAS
2020 was a year that witnessed global disruptions, economic downturn and volatility owing to the ongoing COVID-19 pandemic. In the wake of the pandemic, the Government of India undertook several regulatory and legal reforms with the aim of curtailing the economic slump and bolstering foreign investment, while simultaneously suppressing opportunistic takeovers/acquisitions of Indian companies.
The tone of the reforms initiated over the course of the year has been underscored by the concept of 'Atmanirbhar Bharat' (self-reliant India).
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