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of <h1>India Updates FDI Policy: 100% Automatic Route for Pharma Greenfield, Government Approval for Brownfield. Non-Compete Clauses Restricted.</h1> The circular clarifies the Foreign Direct Investment (FDI) policy in the pharmaceuticals sector, allowing up to 100% FDI through the automatic route for greenfield investments and up to 100% under government approval for brownfield investments. The policy continues with the stipulation that 'non-compete' clauses are generally prohibited unless approved by the Foreign Investment Promotion Board. The Reserve Bank of India has amended the relevant regulations accordingly. Authorized Dealer banks are instructed to inform their customers about these updates, and the changes are issued under the Foreign Exchange Management Act, 1999.
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