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TMI BlogReview of Foreign Direct Investment (FDI) policy on various sectorsX X X X Extracts X X X X X X X X Extracts X X X X ..... 3.2 of FDI Policy is amended to be read as under: Sector/Activity % of Equity/ FDI Cap Entry Route 5.2.3.2 Coal Lignite (1) Coal Lignite mining for captive consumption by power projects, iron steel and cement units and other eligible activities permitted under and subject to the provisions of Coal Mines (Special Provisions) Act, 2015 and the Mines and Minerals (Development and Regulation) Act, 1957. (2) Setting up coal processing plants like washeries subject to the condition that the company shall not do coal mining and shall not sell washe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ctured in India through wholesale and/ or retail, including through e-commerce, without Government approval. 4. Single Brand Retail Trading Para 5.2.15.3 of FDI Policy is amended to read as under: Sector/Activity % of Equity/ FDI Cap Entry Route Single Brand Product retail trading 100% Automatic (1) Foreign Investment in Single Brand Product retail trading is aimed at attracting investments in production and marketing, improving the availability of such goods for the consumer, encouraging increased sourcing of good ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . This procurement requirement would have to be met, in the first instance, as an average of five years' total value of the goods procured, beginning 1st April of the year of commencement of SBRT business (i.e. opening of first store or start of online retail, whichever is earlier). Thereafter, SBRT entity shall be required to meet the 30% local sourcing norms on an annual basis. For the purpose of ascertaining the sourcing requirement, the relevant entity would be the company, incorporated in India, which is the recipient of foreign investment for the purpose of carrying out single-brand product retail trading. (f) For the purpose of meeting local sourcing requirement laid down at para (e) above, all procurements made ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the business i.e. opening of first store or start of online retail, whichever is earlier for entities undertaking single brand retail trading of products having `state-of-art' and 'cutting-edge' technology and where local sourcing is not possible. Thereafter, provisions of Para 5.2.15.3 (2) (e) will be applicable. A Committee under the Chairmanship of Secretary, DPIIT, with representatives from NITI Aayog, concerned Administrative Ministry and independent technical expert(s) on the subject will examine the claim of applicants on the issue of the products being in the nature of 'state-of-art' and 'cutting-edge' technology where local sourcing is not possible and give recommendations for such relaxation. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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