Former Congress chief Rahul Gandhi on Saturday thanked the Union government for “taking note” of his warning and amending the foreign direct investment (FDI) policy to check hostile takeovers of distressed Indian companies amid the COVID-19 pandemic.
“I thank the government for taking note of my warning and amending the FDI norms to make it mandatory for government approval in some specific cases,” Mr. Gandhi tweeted.
Congress’ chief spokesperson Randeep Surjewala took to twitter to give credit to Mr. Gandhi for the government move.
“Glad that govt. has positively responded to @RahulGandhi’s suggestion of protecting our corporates from hostile takeovers. The amendment in FDI Policy is welcome and will plug creeping acquisition of any Indian entity. Hope that this constructive engagement shall continue,” Mr. Surjewala tweeted.
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