Investment on Repatriation basis

NRIs and OCIs are permitted to invest in unlisted equity instruments of Indian companies on a repatriation basis. These investments are treated as FDI and must comply with the sectoral caps and conditions stipulated under the FEMA (Non-debt Instruments) Rules, 2019. While many sectors are under the automatic route (requiring no prior government approval), you must ensure compliance with the specific sectoral limits and reporting requirements for FDI.