Tancoo gets new powers to facilitate foreign investors

The Gov­ern­ment has re­moved cer­tain pow­ers from the Pres­i­dent, un­der the For­eign In­vest­ment Act, and as­signed them to Min­is­ter of Fi­nance Dav­en­dranath Tan­coo.

Guardian Me­dia un­der­stands that this is be­ing done to fa­cil­i­tate large scale in­vest­ment by the US com­pa­nies, in par­tic­u­lar da­ta cen­tres, and oth­er en­ti­ties as­so­ci­at­ed with the Gov­ern­ment’s Re­vi­tal­i­sa­tion pro­gramme.

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The or­der, which was pub­lished in the Gazette yes­ter­day, is ti­tled the Del­e­ga­tion of Func­tions (For­eign In­vest­ment) Or­der, 2026.