India has drafted rules proposing tighter scrutiny of new Foreign Portfolio Investors (FPIs) from China and Hong Kong, its latest effort to check foreign inflows during the coronavirus pandemic according to a report by Reuters.
The discussions come weeks after India said it will screen all foreign direct investment (FDI) from countries with which it shares a land border, a move it said was aimed at staving off takeovers when asset prices are depressed during the coronavirus pandemic. The Chinese government described the policy as discriminatory.
FDIs are longer-term direct investments that typically provide con...