ABSTRACT
The1 Indian economy has grown rapidly in recent years and remains a bright spot in the global landscape. Indeed, according to recent reports from the World Bank, India remains one of the largest emerging market economies in the world and is expected to continue its growth in the coming years. The United Nations Conference on Trade and Development’s latest world investment report ranks India among the top fifteen favourite foreign direct investment (FDI) host economies. In particular, the Monopolies and Restrictive Trade Practices Act and the Foreign Exchange Regulation Act, introduced in 1969 and 1973 respectively, sought to restrict foreign ownership of shares in companies incorporated in India and required numerous permits and clearances for all foreign companies. The changes in attitudes towards FDI were given effect through a series of progressive amendments to India’s economic policies.
