Former Congress chief Rahul Gandhi on Saturday thanked the Central Government for taking note of his warning and amending the foreign direct investment (FDI) policy to check opportunistic takeovers of Indian companies amid the coronavirus 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," Rahul tweeted.
Rahul had last week expressed concerns on the issue. "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 tweeted on April 12 two days before Prime Minister Narendra Modi had announced extension of Corona related lockdown.
Rahul's tweet was connected to Chinese central bank’s move to raise it’s stake to 1 percent in HDFC.