9911796707
TMI BlogForeign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Eighteenth Amendment) Regulations, 2016X X X X Extracts X X X X X X X X Extracts X X X X ..... t) Regulations, 2016. (ii) They shall come into force from the date of their publication in the Official Gazette. 2. Amendment to Schedule 1 In Annex B to Schedule 1 of the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000, (Notification No. FEMA 20/2000-RB dated 3rd May 2000), the following paragraphs shall be substituted with the following, namely: SL. No Sector/Activity Foreign Investment Cap (% ) Entry Route Agriculture 1. Agriculture & Animal Husbandry a) Floriculture, Horticulture and Cultivation of Vegetables & Mushrooms under controlled conditions; b) Development and production of seeds and planting material; c) Animal Husbandry (including breeding of dogs), Pisciculture, Aquaculture, Apiculture; and d) Services related to agro and allied sectors. Note: Other than the above, foreign investment is not allowed in any other agricultural sector/activity 100% Automatic 1.1 Other Conditions The term 'under controlled conditions' covers the following: (i) 'Cultivation under controlled conditions' for the categories of floriculture, horticulture, cultivation of vegetables and mushrooms is the p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nufactured in India. Services Sector Information Services 7. Broadcasting 7.1 Broadcasting Carriage Services 7.1.1 (1) Teleports (setting up of up-linking HUBs/Teleports); (2) Direct to Home (DTH); (3) Cable Networks (Multi System Operators (MSOs) operating at National or State or District level and undertaking upgradation of networks towards digitalization and addressability): (4) Mobile TV; (5) Headend-in-the Sky Broadcasting Service (HITS) 100% Automatic 7.1.2 Cable Networks (Other MSOs not undertaking upgradation of networks towards digitalization and addressability and Local Cable Operators (LCOs)). 100% Automatic Note: Infusion of fresh foreign investment, beyond 49% in a company not seeking license/permission from sectoral Ministry, resulting in change in the ownership pattern or transfer of stake by existing investor to new foreign investor, will require Government approval 9. Civil Aviation 9.2 Airports (a) Greenfield projects (b) Existing projects 100% 100% Automatic Automatic 16.3 Single Brand Retail trading (SBRT) 100% Automatic up to 49%. Government route beyond 49% 1) Foreign Investment in Single Brand product retail trading is aimed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dia, which is the recipient of foreign investment for the purpose of carrying out single brand product retail trading. f) Subject to the conditions mentioned in this Para, a single brand retail trading entity operating through brick and mortar stores, is permitted to undertake retail trading through e-commerce. 3) Application seeking permission of the Government for foreign investment exceeding 49% in a company which proposes to undertake single brand retail trading in India would be made to the Secretariat for Industrial Assistance (SIA) in the Department of Industrial Policy & Promotion. The applications would specifically indicate the product/product categories which are proposed to be sold under a 'Single Brand'. Any addition to the product/product categories to be sold under 'Single Brand' would require a fresh approval of the Government. In case of foreign investment up to 49 %, the list of products/product categories proposed to be sold except food products would be provided to the RBI. 4) Applications would be processed in the Department of Industrial Policy & Promotion, to determine whether the proposed investment satisfies the notified guidelines, befor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Of these, the highest level of production in any of these three years would be taken as the level. b)Research and Development (R&D) expenses being maintained in value terms for 5 years at an absolute quantitative level at the time of induction of foreign investment. The benchmark for this level would be decided with reference to the highest level of R&D expenses which has been incurred in any of the three financial years immediately preceding the year of induction of foreign investment. c)The administrative Ministry will be provided complete information pertaining to the transfer of technology, if any, along with induction of foreign investment into the investee company. d)The administrative Ministry (s) i.e. Ministry of Health and Family Welfare, Department of Pharmaceuticals or any other regulatory Agency/Development as notified by Central Governemnt from time to time, will monitor the compliance of conditionalities. Note : i. foreign investment up to 100% under the automatic route is permitted for manufacturing of medical devices. The above mentioned conditions will, therefore, not be applicable to greenfield as well as brownfield projects of this industry. ii. Medical de ..... X X X X Extracts X X X X X X X X Extracts X X X X
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