Effective or announced 9 February 2026Impact for foreign investors: medium
What changed
Under the RBI notification of 9 February 2026, an Indian borrower may raise ECB up to the higher of USD 1 bn outstanding or total borrowings of 300% of net worth, with a three-year minimum average maturity. The cost ceiling no longer applies to ECBs of three years or more. Shorter ECBs for manufacturers, up to USD 150 mn, follow the trade-credit ceiling.
Who it affects
Indian subsidiaries funding capex with parent or offshore loans, including project companies in renewables and manufacturing.
What to do
Revisit the debt-equity mix of planned funding and confirm reporting through your AD bank.