Transactions & Deals in India

Full guide · Source-checked research98% of statements checked against a source107 checked against an official source34 checked against a secondary sourceChecked 2026-10-19Not yet professionally reviewed

• An entity of a country sharing a land border with India, or an investment whose beneficial owner is linked to such a country, can invest only under the government route, and a later transfer that brings beneficial ownership within this category also needs government approval.

  Press Note 3 (2020 Series) dated 17 April 2020, as revised in 2026; subject to the 10% non-controlling exception in in-establish-004. Central rule.Department for Promotion of Industry and Internal Trade (DPIIT), Foreign Investment Facilitation Portal · checked 2026-10-18

• Investors whose beneficial ownership from land-border countries is non-controlling and no more than 10% may invest under the automatic route, subject to sectoral caps, entry routes and conditions, with the investee reporting the relevant details to DPIIT.

  Beneficial ownership is defined using the criteria of the Prevention of Money-laundering Rules, 2005 and tested at the level of the investor entity. Central rule.Prime Minister's Office (pmindia.gov.in) · checked 2026-10-18

• Proposals from land-border-country investors in specified manufacturing sectors must be decided within 60 days of filing where the investor holds up to 49% and resident Indian citizens or Indian-owned entities keep majority shareholding and control at all times.

  Sectors listed in Schedule II of the SOP, including capital goods, electronic components and electronic capital goods, polysilicon and ingot-wafer, advanced battery components and rare earth permanent magnets and processing. Central rule.Department for Promotion of Industry and Internal Trade (DPIIT) · checked 2026-10-18

• Downstream investment by an Indian entity that is foreign-owned or foreign-controlled counts as indirect foreign investment and must comply with the entry route, sectoral caps, pricing guidelines and other conditions.

  Central rule (FDI Policy and FEMA Non-debt Instruments Rules).Department for Promotion of Industry and Internal Trade (DPIIT), Foreign Investment Facilitation Portal · checked 2026-10-18

• Since 7 March 2024 a combination is notifiable to the CCI where the parties have assets in India of more than Rs 2,500 crore or turnover in India of more than Rs 7,500 crore, or the group has assets in India of more than Rs 10,000 crore or turnover in India of more than Rs 30,000 crore, with alternative worldwide tests that require a minimum Indian nexus.

  Section 5 of the Competition Act 2002 as revised by notification; worldwide tests: parties USD 1.25 billion assets or USD 3.75 billion turnover, group USD 5 billion assets or USD 15 billion turnover, each including at least Rs 1,250 crore assets or Rs 3,750 crore turnover in India.iPleaders · checked 2026-10-18

• Under the Competition (Minimum Value of Assets or Turnover) Rules 2024, a combination does not need to be notified where the target has assets in India of not more than Rs 450 crore or turnover in India of not more than Rs 1,250 crore.

  Small target (de minimis) exemption; does not apply where the deal value threshold is met.Competition Commission of India · checked 2026-10-18

• A transaction whose value exceeds Rs 2,000 crore is notifiable to the CCI where the target has substantial business operations in India.

  Section 5(d) of the Competition Act inserted by the Competition (Amendment) Act 2023; in force from 10 September 2024; applies even where the small target exemption would otherwise apply. Value includes direct, indirect, immediate and deferred consideration; if it cannot be established with reasonable certainty the threshold is deemed met.Competition Commission of India · checked 2026-10-18

• A target has substantial business operations in India if, for digital services, 10% or more of its global users are in India, or, for other businesses, its Indian gross merchandise value or turnover is 10% or more of the global figure and above Rs 500 crore.

  CCI (Combinations) Regulations 2024, in force 10 September 2024. The Rs 500 crore floor does not apply to digital services.Competition Commission of India · checked 2026-10-18

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