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of <h1>Registered trusts and societies can invest overseas in manufacturing or education with RBI approval under FEMA Schedule III</h1> Registered trusts and societies operating in manufacturing or educational sectors, including those with hospitals in India, may invest overseas in the same sectors through joint ventures or wholly owned subsidiaries. Such investments require prior approval from the Reserve Bank of India and must satisfy criteria specified in Schedule III of the notification. This provision was introduced in 2008 under FEMA regulations governing foreign exchange management for transfer or issue of foreign securities.
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