While company sources indicated that investment below a certain threshold does not require government approval, officials clarified that when it comes to neighbouring countries, the proposal will need a clearance even if the sector is under the automatic route for foreign direct investment (FDI). Besides, Udaan’s parent firm Trustroot Internet is registered in Singapore.from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2Mvx1WH
