As per the Press Release issued by Commerce & Industry Ministry , non-repatriable investments by NRIs, OCIs and PIOs will be treated as domestic investments and will not be subject to foreign direct investment caps.
The above notification further states that investment made by NRIs under Schedule 4 of FEMA regulations will be deemed to be domestic investment at par with the investment made by residents
As per the above notification , NRIs would also include Overseas Citizens of India (OCIs) and Persons of Indian origin (PIOs).
Government of India's decision is expected to result in increased investments across sectors and
greater inflow of foreign exchange remittances leading to higher economic
growth.
