It also covers the Overseas Investment Rules and Regulations, 2022, which distinguish Overseas Direct Investment (ODI) from Overseas Portfolio Investment (OPI), simplify investment structures, liberalise norms for overseas investments, and reduce procedural complexity. Liberalisation of Foreign Direct Investment (FDI) NormsOne of the most important reforms under FEMA has been the continuous liberalisation of Foreign Direct Investment (FDI) policies. Reform in Overseas Direct Investment (ODI) FrameworkThe introduction of the Overseas Investment Rules and Regulations, 2022 marked a major restructuring of India’s ODI regime. Impact of FEMA Reforms on BusinessesThe recent FEMA reforms have had a positive impact on the business environment in India. Compliance AwarenessSmall and medium enterprises may lack adequate awareness of FEMA compliance requirements.