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Applicability of Partner for a NRI in Agricultural operations

satbir singhwahi

CAN NRI BE PARTNER IN FIRM CARRYING AGRICULTURE OPERATIONS ON LEASED LAND AND FINALLY EXPORTING THE AGRICULTURE PRODUCE?

NRI participation in agricultural enterprises is prohibited except for horticulture and tea plantation under FEMA restrictions. NRIs and other non-residents are generally barred from investing in the agricultural sector, with the exception of horticulture and tea plantation; partnership participation in agricultural enterprises on leased land is therefore restricted and governed by FEMA regulations and the applicable master circular. (AI Summary)
FEMA
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Dinesh Gupta on Nov 23, 2009
NRIs along with other non residents are not allowed to invest into Agriculture Sectors except horticulture and Tea Plantation sectors. See, Rgulations and master circular under FEMA section.
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