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<h1>FDI Policy Update: Tobacco Manufacturing Ban, Agriculture Rules, NBFC Subsidiaries, and New Guidelines for Trading and Construction.</h1> Circular 2 of 2010 updates and clarifies the Foreign Direct Investment (FDI) Policy as of September 30, 2010. Key updates include the prohibition of FDI in tobacco product manufacturing, clarification on 'controlled conditions' for FDI in agriculture and animal husbandry, and the requirements for value-addition in titanium mineral separation. It also addresses the setup of subsidiaries by 100% foreign-owned NBFCs, downstream investments through internal accruals, and terms related to construction development projects. Additionally, it revises guidelines for wholesale trading, minimum capitalization, and allows FDI in partly-paid shares and warrants through the Government route.