RBI’s reclassification framework is a policy statement that India is evolving toward a more balanced approach to foreign investment.

The approval routes and control issues could undermine the intended benefits, necessitating further regulatory clarification.

India’s NDCs would remain a pipe-dream unless there is an exponential influx of sustainable financing through FDI in the years to come.

Per the author, the ongoing existence of Press Note-3 may be perceived as an extraneous regulatory component.

[Dibya Prakash Behera is the Manager and Editor at IRCCL.] With the Indian economy facing a severe slowdown with GDP plummeting down to...