Former NITI Aayog CEO Amitabh Kant has been named as India's new Sherpa for the G-20, replacing Piyush Goyal, Minister for Commerce & Industry and Consumer Affairs.
The reforms include loosening restrictions on foreign institutional investors' (FPIs') ability to invest in the debt market and raising the automated route's external commercial borrowing (ECB) cap from USD 750 million or its equivalent to USD 1.5 billion.
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