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Foreign Direct Investment in Commercial Coal Mining in India

August 12, 2020, 10:36:33 AM

PIB

This is with reference to the ongoing auction process of coal mines for commercial coal mining in India, which was launched by the Nominated Authority, Ministry of Coal, Government of India in June 2020.

Foreign Direct Investment (FDI) Policy, 2017 was amended vide the Press Note 4 of 2019, issued by the Central Government, to permit 100% FDI under automatic route in coal mining activities including associated processing infrastructure, for sale of coal, subject to the provisions of Coal Mines (Special Provisions) Act, 2015 and the Mines and Minerals (Development and Regulation) Act, 1957 as amended from time to time and other relevant Acts on the subject.​​


Accordingly, it was stated in the tender document that “The Press Note 4 of 2019, issued by the Central Government, amended FDI Policy 2017, to permit 100% FDI under automatic route in coal mining activities, including associated processing infrastructure subject to the Act and other Applicable Laws, for sale of coal.” It is further clarified that any FDI in the commercial coal mining is subject to Applicable Laws including the Press Note 3 of 2020 issued by the Central Government according to which “an entity of a country, which shares a land border with India or where the beneficial owner of investment into India is situated in or is a citizen of any such country, can invest only under the Government route. Further, a citizen of Pakistan or an entity incorporated in Pakistan can invest, only under the Government route, in sectors/activities other than defence, space, atomic energy and sectors/activities prohibited for foreign investment.”. A corrigendum to the tender document has also been issued in this regard.​

COAL MINING, INDIA

Greetings on the opening of the 4th Chersonese International Opera and Ballet Festival

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RUSSIA

Foreign Direct Investment in Commercial Coal Mining in India

August 12, 2020, 10:36:33 AM

PIB

Draft Defence Production and Export Promotion Policy 2020

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PIB

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Minister Nitin Gadkari approves a New Scheme to Make India Aatmanirbhar in Agarbatti Production

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Government working with RBI on Industry’s need for loan restructuring

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Union Education Minister calls on the Vice President and hands over the New Education Policy

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New Supreme Court building inaugurated by PM Modi and PM of Mauritius Mr Pravind Jugnauth

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