FCRA Bill sovereign step on foreign funds, US has similar laws: Kwatra

India's Ambassador to the US Vinay Mohan Kwatra has said the amendments to the Foreign Contribution (Regulation) Act were aimed at bringing in more transparency and expected organisations to receive money through a laid-down process.

In a series of posts on X, Kwatra on Sunday said regulating foreign financial flows in public and political spaces is a sovereign step driven by national security concerns and cited similar laws enacted by the US for this purpose.

"The US has had FARA (Foreign Agents Registration Act) since 1938 and FATCA (Foreign Account Tax Compliance Act) since 2010. Australia legislated in 2018, Canada in 2024. The UK's scheme came into force in July 2025. The EU is legislating now," he said.