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For the First Time, DIPP Includes Startups in FDI
August 31, 2017
The Department of Industrial Policy and Promotion (DIPP) added a chapter on startups in its consolidated Foreign Direct Investment (FDI) policy this Monday and mentioned the powers available to the administrative divisions when the Foreign Investment Promotion Board is unavailable.
The new consolidated policy addresses a number of issues such as provisions pertaining to the equity instruments and convertible notes by start-ups and applicable restrictions and limitations, etc. For instance, startups can issue convertible notes to individuals who are not residing in India, although under certain conditions.