The Indian government is preparing to notify a new framework for expediting foreign direct investment (FDI) approvals from companies with limited Chinese ownership, specifically in seven sectors crucial to the economy. This initiative follows the Cabinet's decision on March 10 to relax Press Note 3 (PN3 of the 2020 series), allowing automatic approvals for overseas investors holding up to 10% beneficial ownership from countries sharing a land border with India. The sectors identified for this initiative include rare-earth permanent magnets, polysilicon and ingot-wafer production, and electronic component manufacturing, among others. Officials anticipate that this policy will help process around 600 pending investment applications and is expected to boost gross FDI to $90 billion by FY26. The new norms will ensure regulatory clearances within 60 days for eligible applicants, although all investments will still require political and security clearances. DPIIT secretary Amardeep Singh Bhatia emphasized that India's strong economic fundamentals continue to attract global investors, with gross FDI reaching $88.29 billion in the April-February period of FY26, up from $80.65 billion in FY25.