The government has taken a cautious approach towards allowing FDI in the hitherto untried LLP format of business, mostly preferred by professionals, experts said Tuesday.
The government has allowed FDI in Limited Liability Partnership (LLPs) only in sectors where 100 per cent FDI is allowed under the automatic route. But still, government approval is must for FDI in LLPs even in sectors where 100 per cent overseas investment is allowed.
Also read: FDI in multibrand retail inevitable, says Provogue
Experts have, however, welcomed this cautious approach, while looking forward to a gradual liberalisation vis-a-vis FDI.
LLP (Limited Liability Partnership), a new business structure in India, is a hybrid between a partnership company and body corporate.
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