https://www.taxtmi.com/circulars?id=4163 Revision liberalises FDI by expanding automatic-route permissions and specifying sectors where higher foreign participation requires prior government approval. Key operative provisions permit FDI in manufacture of drugs and pharmaceuticals subject to prior approval for licensable and recombinant DNA products; airports, hotels and tourism, courier services (excluding letter distribution), mass rapid transport systems with associated real estate, integrated townships (subject to notified norms), and defence and specified telecom services under licensing or approval regimes. NRI investment in foreign exchange is fully repatriable while rupee account investments remain non-repatriable. en-us Mon, 21 May 2001 00:00:00 +0530 Tue, 30 Sep 2008 17:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=4163 Revision liberalises FDI by expanding automatic-route permissions and specifying sectors where higher foreign participation requires prior government approval. Key operative provisions permit FDI in manufacture of drugs and pharmaceuticals subject to prior approval for licensable and recombinant DNA products; airports, hotels and tourism, courier services (excluding letter distribution), mass rapid transport systems with associated real estate, integrated townships (subject to notified norms), and defence and specified telecom services under licensing or approval regimes. NRI investment in foreign exchange is fully repatriable while rupee account investments remain non-repatriable. Circulars FEMA Mon, 21 May 2001 00:00:00 +0530 https://www.taxtmi.com/circulars?id=4163