This alert summarizes the latest consolidated FDI Policy - Circular 1 of 2011 released by the Department of Industrial Policy and Promotion, Ministry of Commerce and Industry (Government).
The Circular 1 of 2011 has updated all instructions/clarifications issued by the Government relating to FDI Policy as of 31 March 2011 and have superseded Circular 2 of 2010 issued by the Government on 30 September 2010.
The circular will be effective from 1 April 2011 and has been issued with the sunset clause of six months. A new circular consolidating all further amendments to the FDI Policy shall be issued on 30 September 2011.
With the intent and objective to promote foreign direct investment through a policy which is transparent, predictable, simple and clear Government has released this circular consolidating the FDI policy as on 31 March 2011. Some of the changes highlighted in this alert reflect changes in interpretation of FDI Policy. It is likely that some of these changes may impact existing foreign investments, which would need to be reviewed on a case specific basis.
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