Government route approval through DPIIT, sectoral regulator clearance (RBI, SEBI, IRDAI, TRAI), CCI combination filing, security clearance and condition compliance for foreign investments requiring prior approval in India.
Short, direct, on the record.
Government approval is required for investments in sectors not on the automatic route (e.g. multi brand retail, print media, broadcasting, mining, defence beyond 74%), investments from countries sharing land border with India (Press Note 3 of 2020), and investments that would result in change of ownership of an Indian entity with existing FDI from a border country investor.
CCI notification is required if the combined entity has assets in India exceeding INR 2,000 crore or turnover in India exceeding INR 6,000 crore, or global assets exceeding USD 1 billion (with India assets of INR 1,000 crore) or global turnover exceeding USD 3 billion (with India turnover of INR 3,000 crore). Deal value threshold of INR 2,000 crore also applies.
DPIIT aims to process applications within 8 to 10 weeks from receipt of complete application. However, applications requiring security clearance from the Ministry of Home Affairs (particularly for border country investors) can take 3 to 6 months or longer. Incomplete applications are returned for resubmission, restarting the timeline.
Yes. If the combination exceeds the notification thresholds, the transaction cannot be consummated before CCI approval (standstill obligation). Gun jumping (closing before approval) can attract penalties up to 1% of the total turnover or assets of the combination, whichever is higher.
Share the sector, investment amount, investor jurisdiction and proposed structure for a regulatory pathway assessment.