Investment By Non-Resident Indians & Overseas Corporate Bodies

For all sectors excluding those falling within the purview of Government of India's approval, NRIs (which also includes Persons of Indian Origin (PIO)) and OCB's (an OCB means a company or other entity owned directly or indirectly to the extent of at least 60% by NRI's) are eligible to bring investment through the automatic route of the Reserve Bank of India. All other proposals, which do not fulfill any or all of the criteria for automatic approval, are considered by the Government through Foreign Investment Promotion Board.

The NRI's and OCB's are allowed to invest in housing and real estate development sector in which Foreign Direct Investment is otherwise not permitted. They are also allowed to hold 100% equity in civil aviation sector in which otherwise foreign equity is permitted only upto 40%