FEMA aims at facilitating external trade, payments and for promoting the orderly development and maintenance of foreign exchange markets in India. With the liberation, The Reserve Bank of India has permitted foreign investment in almost all sectors with a few exceptions.
source https://www.caclubindia.com/articles/fema-foreign-exchange-management-act-1999-and-rbi-compliances-45986.asp
source https://www.caclubindia.com/articles/fema-foreign-exchange-management-act-1999-and-rbi-compliances-45986.asp
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