Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Amendment) Regulations, 2015 - 334/2015-RB - Foreign Exchange Management

FDI in pharmaceuticals: full automatic-route for greenfield, brownfield subject to government approval and conditions.

Amendments distinguish greenfield and brownfield pharmaceutical FDI: greenfield manufacturing permitted full FDI under the automatic route; brownfield requires government approval and may attract conditions at approval. Non-compete clauses are disallowed except with FIPB approval and applicants must provide a certificate with FIPB application. Medical devices manufacturing is exempt from brownfield conditions and allowed full automatic route FDI, with a detailed definition of medical device subject to amendment under the Drugs and Cosmetics Act.