Can NRIs and Overseas Corporate Bodies (OCBs) invest in India?
Investments by NRIs and OCBs are allowed, both through the RBI route and also through the Government route, i.e., through the Foreign Investment Promotion Board (FIPB).
NRIs and OCBs are permitted to invest up to 100% equity in real estate development activity and civil aviation sectors. Investment made by the NRIs and OCBs, are fully repatriable, except in the case of real estate, which has a 3 year lock-in period on original investment and, 16% cap on dividend repatriation. For those proposals that do not qualify under the automatic route, Government approval is granted through FIPB.