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Department of Industrial Policy and Promotion Ministry of Commerce and Industry Government of India CONSOLIDATED FDI POLICY (EFFECTIVE FROM APRIL 1, 2011) Government of India Ministry of Commerce & Industry Department of Industrial Policy & Promotion (FC Section) CIRCULAR 1 OF 2011 SUBJECT: CONSOLIDATED FDI POLICY. The “Consolidated FDI Policy” is attached. 2. This circular will take effect from April 1, 2011. (V.Bhaskar) Joint Secretary to the Government of India D/o IPP F. No. 5(1)/2011-FC Dated 31.03.2011 Copy forwarded to: 1. Press Information Officer, Press Information Bureau- for giving wide publicity to the above circular. 2. BE Section for uploading the circular on DIPP`s website. 3. Department of Economic Affairs, Ministry of Finance, New Delhi 4. Reserve Bank of India, Mumbai 1 I N D E X DESCRIPTION PAGE NUMBER CHAPTER-1 INTENT AND OBJECTIVE 5 1.1 Intent And Objective 5 CHAPTER-2 DEFINITIONS 8 2.1 Definitions 8 CHAPTER-3 ORIGIN, TYPE, ELIGIBILITY, 14 CONDITIONS AND ISSUE/TRANSFER OF INVESTMENT 3.1 Who can invest in India? 14 3.2. Types of Instruments 15 3.3 Entities into which FDI can be made 18 3.4 Conditions on Issue/Transfer of Shares 19 3.5 Issue of Instruments 25 CHAPTER-4 CALCULATION, ENTRY ROUTE, CAPS, 28 ENTRY CONDITIONS ETC. OF INVESTMENT 4.1 Calculation of Total Foreign Investment i.e. Direct and Indirect Foreign 28 Investment in Indian Companies 4.2 Entry Routes for Investment 31 4.3 Caps on Investments 33 4.4 Entry conditions on Investment 33 4.5 Other conditions on Investment besides entry conditions 33 4.6 Downstream Investment by Indian Companies 34 4.7 Guidelines for consideration of FDI Proposals by FIPB 36 4.8 Constitution of FIPB 38 4.9 Approval Levels for cases under Government Route 38 4.10 Cases which do not require fresh Approval 39 4.11 Online filing of applications for FIPB/Government’s approval 39 CHAPTER-5 POLICY ON ROUTE, CAPS AND ENTRY 40 CONDITIONS 5.1 PROHIBITION ON INVESTMENT IN INDIA 40 5.2 SECTOR-SPECIFIC POLICY FOR FDI 40 AGRICULTURE 40 5.2.1 Agriculture & Animal Husbandry 40 5.2.2 Tea plantation 42 2 INDUSTRY 43 MINING 43 5.2.3 Mining 43 MANUFACTURING 45 5.2.4 Manufacture of items reserved for production in Micro and Small 45 Enterprises (MSEs) 5.2.5 Defence 46 POWER 48 5.2.6 Electric Generation, Transmission, Distribution and Trading 48 SERVICES SECTOR 49 5.2.7 Civil Aviation Sector 49 5.2.8 Asset Reconstruction Companies 52 5.2.9 Banking –Private sector 53 5.2.10 Banking- Public Sector 55 5.2.11 Broadcasting 56 5.2.12 Commodity Exchanges 57 5.2.13 Development of Townships, Housing, Built-up infrastructure and 58 Construction-development projects 5.2.14 Credit Information Companies (CIC) 61 5.2.15 Industrial Parks both setting up and in established Industrial Parks 61 5.2.16 Insurance 63 5.2.17 Infrastructure Company in the Securities Market 63 5.2.18 Non-Banking Finance Companies (NBFC) 63 5.2.19 Petroleum & Natural Gas Sector 66 5.2.20 Print Media 66 5.2.21 Security Agencies in Private sector 67 5.2.22 Satellites – Establishment and operation 68 5.2.23 Telecommunication 68 5.2.24 Trading 73 5.2.25 Courier services for carrying packages, parcels and other items which do 76 not come within the ambit of the Indian Post Office Act, 1898 NOTE 77 CHAPTER-6 REMITTANCE, REPORTING AND 78 VIOLATION 6.1 Remittance and Repatriation 78 6.2 Reporting of FDI 79 6.3 Adherence to Guidelines/Orders and Consequences of Violation 82 Penalties 82 Adjudication and Appeals 82 Compounding Proceedings 83 3 ANNEXURES Annex-1-A Form FC-GPR 84 Annex-1-B Form Annual Return on Foreign Liabilities and Assets 91 Annex-2 Terms and conditions fortransfer of capital instruments from resident to 104 non-resident and vice-versa Annex-3 Documents to be submitted by a person resident in India for transfer of 108 shares to a person resident outside India by way of gift Annex-4 Definition of "relative" as given in Section 6 of Companies Act, 1956 109 Annex-5 Report by the Indian company receiving amount of consideration for 110 issue of shares / convertible debentures under the FDI scheme Annex-6 Know Your Customer (KYC) Form in respect of the non-resident 112 investor Annex-7 Form FC-TRS 113 Annex-8 Form DR 118 Annex-9 Form DR - Quarterly 120 4 ... - tailieumienphi.vn
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