https://www.taxtmi.com/circulars?id=64319 The policy raises the automatic-route foreign equity ceiling for the defence industry and retains government approval beyond the new ceiling where access to modern technology or other specified reasons exist. Licence applications remain subject to inter-ministerial consultation; foreign investment requires security clearance and may be reviewed on national security grounds. Companies not holding an industrial licence must file a mandatory declaration with the Ministry of Defence within thirty days if foreign infusion alters ownership up to the lower threshold, while proposals to increase FDI beyond that lower threshold require government approval. Investee entities must ensure in country design, development, manufacturing, maintenance and life cycle support capabilities. en-us Thu, 17 Sep 2020 00:00:00 +0530 Fri, 18 Sep 2020 13:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=64319 The policy raises the automatic-route foreign equity ceiling for the defence industry and retains government approval beyond the new ceiling where access to modern technology or other specified reasons exist. Licence applications remain subject to inter-ministerial consultation; foreign investment requires security clearance and may be reviewed on national security grounds. Companies not holding an industrial licence must file a mandatory declaration with the Ministry of Defence within thirty days if foreign infusion alters ownership up to the lower threshold, while proposals to increase FDI beyond that lower threshold require government approval. Investee entities must ensure in country design, development, manufacturing, maintenance and life cycle support capabilities. Circulars FEMA Thu, 17 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/circulars?id=64319