India – Press Note 3 Of 2021 By DIPP On Foreign Direct Investment (“FDI”) In Petroleum And Natural Gas PSUs.

Pursuant to the press note, the levels of permitted foreign investment under the automatic route has been increased from 49% (forty nine percent) to 100% (one hundred percent), if the concerned PSU is operating in the petroleum and natural gas sector, and has received an 'in-principle' approval for strategic disinvestment.from the central government This has been done primarily to aid the privatization of Bharat Petroleum Corporation Limited, and the sale of the government’s 53% (fifty three percent) stake in the company.
 

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For further information, please contact:  

Souvik Ganguly, Partner, Acuity Law