Indian, Chinese companies' JV proposals may get quicker nods

Proposals under Press Note 3 will be expedited only when certain conditions are met. First, the Indian company has to make a case that the technology required and investment proposed is critical for developing the local manufacturing supply chain in areas such as hi-tech components. Second, the management and board of the investee company should not have any Chinese nationals in key roles such as MD/CEO and finance chief, and the Chinese partner can only have a minority stake in any partnership.