Companies wanting to qualify for foreign direct investment (FDI) in the past had to present a project size with a minimum of 50,000 square metres and commit at least US$10 million towards a wholly owned subsidiary. This was a major challenge since finding such a large project in a tier I city was difficult. In contrast, in tier II and III cities where such projects were available, the demand was not sufficient to warrant investor interest.
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The business law digest is compiled by Nishith Desai Associates (NDA). NDA is a research-based international law firm with offices in Mumbai, New Delhi, Bangalore, Singapore, Silicon Valley and Munich. It specializes in strategic legal, regulatory and tax advice coupled with industry expertise in an integrated manner.