Finance Minister Nirmala Sitharaman on July 23 during the budget speech proposed to ease norms on the foreign direct investment (FDI) and overseas investment.
“FDI and overseas investment rules will be simplified to facilitate foreign direct investment, nudge prioritisation, and promote opportunities for using Indian rupee as a currency for overseas investment,” Sitharaman said during the speech.
Currently, Indian rupee is trading at 83.6313 against the US dollar.
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