The Prime Minister’s Office (PMO) on Friday has reviewed Press Note 3 (PN3), a key policy governing foreign direct investment (FDI) from India’s neighbouring countries, signalling the strongest indication yet that the government may be willing to revisit a framework that has been in place since 2020.

Sources told CNBC-TV18 that the meeting will be chaired by Principal Secretary-2 to the Prime Minister Shaktikanta Das, with representatives from the Department for Promotion of Industry and Internal Trade (DPIIT), Department of Economic Affairs (DEA), Ministry of External Affairs (MEA) and other stakeholder ministries who are understood to have participated.

The high-level review comes at a time when the government is facing rising trade frictions with the United States, which has repeatedl

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