In a move to appreciate the foreign companies, which have shown confidence in India for over five years now by investing through joint ventures with Indian partners, the industry ministry on Friday proposed to allow them to bring in fresh capital and technology irrespective of its impact on the domestic partners' interest.

As per the present norms, it is mandatory for these foreign players to take approval of the government and ensure that infusion of new capital would not affect their Indian partners' interest by any means. However, the ministry clarified that the relaxation is applicable only for those foreign players who entered the country before January 12, 2005. So, those who came after the specified date can not be a beneficiary to the new clause.

Department of Industrial Policy and Promotion's discussion paper on the same said, "There is a need to examine whether such a conditionality continues to be relevant in the present day context." The discussion paper will remain opened for comments till October 15.

As per the paper, this clause will reward those who companies who had shown faith in the country's economy at an early stage.