Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Thirteenth Amendment) Regulations, 2014 - 319/2014-RB - Foreign Exchange Management
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Defence FDI policy: government route up to cap; higher proposals require security clearance and technology access review. The amendment replaces the Annex B entry for Defence to set a composite foreign investment cap and entry routes: investment up to the cap is permitted under the Government route, while investment beyond the cap will be considered by the Cabinet Committee on Security on a case by case basis where access to modern or state of the art technology is likely. It aggregates all forms of foreign investment, imposes detailed licensing and ownership conditions (including Indian ownership and management, resident Chief Security Officer, and verification of foreign collaborators), prescribes production, sale and quality assurance controls, and designates FIPB as the application channel with specified approval timelines.
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Provisions expressly mentioned in the judgment/order text.
Defence FDI policy: government route up to cap; higher proposals require security clearance and technology access review.
The amendment replaces the Annex B entry for Defence to set a composite foreign investment cap and entry routes: investment up to the cap is permitted under the Government route, while investment beyond the cap will be considered by the Cabinet Committee on Security on a case by case basis where access to modern or state of the art technology is likely. It aggregates all forms of foreign investment, imposes detailed licensing and ownership conditions (including Indian ownership and management, resident Chief Security Officer, and verification of foreign collaborators), prescribes production, sale and quality assurance controls, and designates FIPB as the application channel with specified approval timelines.
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