https://www.taxtmi.com/circulars?id=53129 Revision permits Foreign Direct Investment up to 49% under the government route in defence subject to Press Note 7 (2014 Series) conditions; portfolio and FVCI investment collectively capped at 24% of total equity with NRI portfolio investment not exceeding 10%, portfolio investment under automatic route. Listed defence investee companies must allocate sub limits for RFPI (including QFI and FII), NRI and FVCI within the 24% and inform the Reserve Bank for monitoring. Items not on the finalized defence list and most dual use items do not require an industrial licence; FEMA principal regulations were amended accordingly. en-us Mon, 08 Dec 2014 00:00:00 +0530 Tue, 09 Dec 2014 11:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=53129 Revision permits Foreign Direct Investment up to 49% under the government route in defence subject to Press Note 7 (2014 Series) conditions; portfolio and FVCI investment collectively capped at 24% of total equity with NRI portfolio investment not exceeding 10%, portfolio investment under automatic route. Listed defence investee companies must allocate sub limits for RFPI (including QFI and FII), NRI and FVCI within the 24% and inform the Reserve Bank for monitoring. Items not on the finalized defence list and most dual use items do not require an industrial licence; FEMA principal regulations were amended accordingly. Circulars FEMA Mon, 08 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/circulars?id=53129