A benign welcome for foreigners
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The authorities looked benignly on only certain types of exports. Foreigners have found it difficult to invest there because of oppressive stipulations. Delhi insisted that foreign multis should generally hold only a minority stake in their Indian enterprises. The alluring vista of bags of export-dollars often may prove a catalyst. The incentives for export-related investments can be divided into three categories direct grants or cheap loans; indirect aid through the furnishing of infrastructure benefits accruing from the lifting of general investment restrictions. Takeovers, however, are seen as a national insult and are such an anathema that Less-developed countries will not countenance them except in very special circumstances. OECD economies have few limitations on multis investing in new manufacturing enterprises but they frequently do have laws circumscribing takeovers by foreign invaders. Brazil insisted on a given level of exports from foreigners allowed to manufacture on its territory.