The FDI cap is the headline; the architecture that determines what the cap permits sits in the licences, the security clearance, and the scheme application stack behind it.
India's regulatory architecture for foreign capital has expanded faster between 2014 and 2026 than in the entire preceding three decades. Sectors closed since Independence were opened. The FTA portfolio expanded across nine agreements. Press Notes recalibrated the land-border regime. Yet the FDI policy alone does not determine what an entrant can do once capital is committed: the Department of Telecommunications licence, the Ministry of Home Affairs clearance, the IN-SPACe authorisation, the PLI scheme application all sit beside the policy and run on their own clocks.