New Delhi, March 10 -- In a significant decision, the Union Cabinet chaired by Prime Minister Narendra Modi, has approved changes in guidelines on investments from countries sharing land border with India (LBCs), including China.

An official release said on Tuesday that the Cabinet approved changes in FDI policy to provide for a definitive timeline for investments in critical sectors requiring approval under PN3 (Press Note 3).

It said the amendments in the FDI Policy aim to unlock greater FDI inflows from global funds for startups and deep techs, take forward the agenda of ease of doing business.

An expeditious decision in 60 days would help companies enter into collaborations to expand manufacturing in India, the release said.

It sa...