'Thank You': Rahul Gandhi on Centre revising FDI policy amid COVID-19 crisis

New Delhi, Apr 18: Minutes after the government amended foreign direct investment (FDI) norms for companies based in neighbouring countries, Congress leader Rahul Gandhi thanked the government for amending the policy.

"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," he wrote on Twitter.

Gandhi had, on April 12, flagged the issue of alleged takeover of some Indian companies after those became vulnerable in the wake of the economic slowdown.

"The massive economic slowdown has weakened many Indian corporates making them attractive targets for takeovers. The Government must not allow foreign interests to take control of any Indian corporate at this time of national crisis," he had written on Twitter.

Gandhi's warning came after the People's Bank of China (PBoC) invested in HDFC and took up a stake in the finance company.

Earlier in the day, the Commerce and Industry Minister said foreign companies looking to invest in the country must now approach the government if they are based in a nation that shares borders with India.

As per the earlier policy, companies from Bangladesh and Pakistan were required to take the government route. The rule has now been revised to include companies from China.