The National Security Council (NSC) that has suggested umbrella legislation—the National Security Exemption Act—had originally proposed a “country of origin” list to clear FDI. But this suggestion is learnt to have been dropped after objections from the Ministry of External Affairs, which felt that singling out countries like China could have serious foreign policy implications.
The move was also prompted by the realisation that the country of origin could be camouflaged through companies registered in tax havens like Cayman Islands, an official said.
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