This chapter looks at the core elements of India’s investment policies. India has made substantial progress in creating a sound environment for all investments, whether small or large, domestic or foreign. The chapter analyses how India’s policies have evolved to embrace investment policy principles including transparency, property protection and nondiscrimination and suggests further reform in liberalising market restrictions and providing a predictable policy environment for investors. The analysis is structured around the questions set out in the Policy Framework for Investment (PFI). Each section is preceded by the relevant PFI question, which serves as general context for consideration of main policy areas.