What is meant by 'person of Indian origin'?
CS Executive · Economic and Commercial Laws · PYQS · June 2015
What is meant by 'person of Indian origin'?
Answer & Explanation:
As per Foreign Direct Investment (FDI) Policy 'Person of Indian Origin' (PIO) means a citizen of any country other than Bangladesh or Pakistan, if he at any time held Indian Passport; he or either of his parents or any of his grandparents was a citizen of India by virtue of the Constitution of India or the Citizenship Act, 1955; or the person is a spouse of an Indian citizen or a person referred to in sub clause (i) or (ii).
Topics: Foreign Exchange Management Act (FEMA)
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