Executive Summary:
This notification, titled the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Eighteenth Amendment Regulations, 2016), amends the 2000 regulations regarding foreign investment. It was issued by the Reserve Bank of India, effective from the date of its publication in the Official Gazette on December 7, 2016. The notification outlines changes to foreign investment caps and entry routes for various sectors, including agriculture, manufacturing, defense, broadcasting and pharmaceuticals.
Key Points / Main Content:
Amendments to Schedule 1, Annex B:
Agriculture:
Foreign investment up to 100% is allowed via the automatic route for floriculture, horticulture, cultivation of vegetables and mushrooms under controlled conditions, development and production of seeds and planting material, animal husbandry (including dog breeding), pisciculture, aquaculture, apiculture and services related to agro and allied sectors.
Cultivation under controlled conditions involves artificially controlling rainfall, temperature, solar radiation, air humidity, and culture medium through protected cultivation methods like greenhouses and net houses.
Foreign investment is not allowed in any other agricultural sector or activity.
Manufacturing:
Foreign investment is allowed up to 100% via the automatic route. Manufacturers can sell products made in India through wholesale, retail, and e-commerce without government approval.
100% foreign investment under the government approval route is allowed for trading (including e-commerce) of food products manufactured or produced in India. Applications are processed by the Department of Industrial Policy and Promotion (DIPP).
Defense:
Foreign investment up to 49% is allowed via the automatic route, and beyond 49% via the government route, subject to industrial license under the Industries Development Regulation Act, 1951 and manufacturing of small arms and ammunition under the Arms Act, 1959.
Government approval is required for fresh foreign investment within the permitted automatic route level, in a company not seeking industrial license, resulting in a change in ownership.
License applications are considered by the DIPP in consultation with the Ministry of Defence and Ministry of External Affairs. The sector is subject to security clearance and guidelines from the Ministry of Defence. Investee companies should be self-sufficient in product design and development and have maintenance and lifecycle support facilities.
Broadcasting:
Teleports, Direct to Home (DTH), Cable Networks (MSOs operating at National/State/District level), Mobile TV, and Headend-in-the-Sky Broadcasting Service (HITS) are allowed 100% foreign investment via the automatic route.
Other MSOs not undertaking upgradation and Local Cable Operators (LCOs) are allowed 100% foreign investment via the automatic route.
Government approval is required for fresh foreign investment beyond 49% in a company not seeking license from the sectoral Ministry, resulting in a change in ownership.
Civil Aviation:
100% foreign investment is permitted under the automatic route for both greenfield and existing airport projects.
Single Brand Retail Trading (SBRT):
Foreign investment up to 49% is allowed via the automatic route and beyond 49% via the government route.
Aims to attract investments in production and marketing, improve goods availability, encourage sourcing from India, and enhance competitiveness.
Products must be of a 'Single Brand' and sold under the same brand internationally, branded during manufacturing.
For investments beyond 51%, 30% of the value of purchased goods must be sourced from India, preferably from MSMEs, village and cottage industries, artisans, and craftsmen.
Sourcing norms are not applicable for three years from business commencement for entities undertaking SBRT of products with 'state-of-art' and 'cutting-edge' technology.
Pharmaceuticals:
100% foreign investment is permitted under the automatic route for Greenfield projects.
100% foreign investment is permitted under the automatic route up to 74% and via the government route beyond 74% for Brownfield projects.
Non-compete clauses are generally disallowed except in special circumstances with FIPB approval.
For brownfield investments, the production level of National List of Essential Medicines (NLEM) drugs and R&D expenses must be maintained at specified levels.
The administrative Ministry must be provided complete information regarding technology transfer.
Impact Analysis:
Reserve Bank of India:
Impact: Responsible for implementing and monitoring the amended regulations related to foreign exchange management.
Action Required: Update internal guidelines and procedures to reflect the changes outlined in the notification.
Foreign Investors:
Impact: The changes in investment caps and entry routes will directly impact investment strategies and decisions in the specified sectors.
Action Required: Review investment plans to align with the new regulations, particularly in sectors like defense, single-brand retail, and pharmaceuticals.
Indian Companies (Investees):
Impact: The regulations affect the ownership structure, operational conditions (e.g., sourcing requirements), and compliance obligations of companies receiving foreign investment.
Action Required: Ensure compliance with the new sourcing norms, reporting requirements, and other conditions specified in the notification.
Department of Industrial Policy and Promotion (DIPP):
Impact: Involved in processing applications for foreign investment, especially in the food products retail trading and single-brand retail sectors.
Action Required: Update application review processes and guidelines to incorporate the new regulations.
Ministries of Defence and External Affairs:
Impact: Required to provide consultation on license applications in the defense sector.
Action Required: Incorporate the security clearance and other guidelines related to foreign investment in the defense sector.
Ministry of Health and Family Welfare/Department of Pharmaceuticals:
Impact: Responsible for monitoring compliance with conditionalities related to foreign investment in the pharmaceuticals sector.
Action Required: Establish mechanisms for monitoring the production levels of NLEM drugs, R&D expenses, and technology transfers in investee companies.
Small and Medium Enterprises (MSMEs), Village and Cottage Industries, Artisans and Craftsmen:
Impact: Benefit from the sourcing requirements in the single-brand retail sector, which encourages the purchase of goods from these entities.
Action Required: Engage with single-brand retail entities to meet their sourcing needs and showcase their products.
Key Entities Referenced
Reserve Bank of India: The central bank of India, responsible for making amendments to the Foreign Exchange Management regulations.
Foreign Exchange Management Act, 1999: An act of the Parliament of India to consolidate and amend the law relating to foreign exchange with the objective of facilitating external trade and payments and for promoting the orderly development and maintenance of foreign exchange market in India.
Foreign Exchange Management Transfer or Issue of Security by a Person Resident outside India Regulations, 2000: Regulations pertaining to the transfer or issue of security by a person resident outside India.
New Delhi: The capital of India, mentioned as the place of publication for the Gazette of India.
Department of Industrial Policy Promotion: A department in India responsible for processing applications for foreign investment, particularly in sectors like food product retail trading and single brand retail trading.
Industries Development Regulation Act, 1951: An act related to industrial licenses.
Ministry of Defence: A ministry of the Government of India responsible for security clearance and guidelines related to foreign investment in the defence sector.
Single Brand Retail trading: A type of retail trading involving products of a single brand, subject to specific conditions regarding sourcing and branding.
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EXTRAORDINARY
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PART II—Section 3—Sub-section (i)
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No. 837] NEW DELHI, WEDNESDAY, DECEMBER 7, 2016/AGRAHAYANA 16, 1938
भारतीय (cid:7407)रज़व (cid:6981)ब(cid:7289)क
(िवदशे ी म(cid:7076)ु ा िवभाग)
(क(cid:7286)(cid:7076)ीय कायाल(cid:6981) य)
अिधसचू ना
मुंबई, 7 (cid:7408)दस(cid:7013)बर, 2016
स.ं फेमा 381/2016- आर बी
िवदेशी म(cid:7076)ु ा (cid:7079)बधं (भारत स ेबाहर के िनवासी (cid:7408)कसी (cid:7390)ि(cid:7334) (cid:7367)ारा (cid:7079)ितभिू त का अतं रण अथवा िनगम(cid:6981) ) (अठारहवा ँसशं ोधन)
िविनयमावली, 2016
सा.का.िन.1118 (अ).—िवदशे ी मु(cid:7076)ा (cid:7079)बंध अिधिनयम,1999 (1999 का 42) क(cid:7409) धारा 6 क(cid:7409) उप-धारा (3) के खंड (बी) और
धारा 47 (cid:7367)ारा (cid:7079)द(cid:7275) शि(cid:7334)य(cid:7298) का (cid:7079)योग करते (cid:7263)ए भारतीय (cid:7407)रज़व(cid:6981) ब(cid:7289)क एत(cid:7375)ारा िवदशे ी मु(cid:7076)ा (cid:7079)बंध (भारत से बाहर के िनवासी (cid:7408)कसी (cid:7390)ि(cid:7334)
(cid:7367)ारा (cid:7079)ितभूित का अंतरण अथवा िनग(cid:6981)म) िविनयमावली, 2000 (3 मई 2000 क(cid:7409) अिधसूचना सं.फेमा.20/2000-आरबी)(इसके बाद “मूल
िविनयमवली” कहलाया जाएगा) म(cid:7286) िन(cid:7388)िलिखत संशोधन करता ह,ै अथा(cid:6981)त:-
1. सिं (cid:6979)(cid:7385) नाम और (cid:7079)ारंभ
(i) ये िविनयम िवदशे ी मु(cid:7076)ा (cid:7079)बंध (भारत से बाहर के िनवासी (cid:7408)कसी (cid:7390)ि(cid:7334) (cid:7367)ारा (cid:7079)ितभूित का अंतरण अथवा िनग(cid:6981)म) (अठारहवाँ संशोधन)
िविनयमावली, 2016 कहलाएंगे।
(ii) वे सरकारी राजप(cid:7074) म (cid:7286)उनके (cid:7079)काशन क(cid:7409) तारीख से लागू ह(cid:7298)गे।
2. अनसु चू ी 1 म (cid:7286)सशं ोधन
िवदशे ी मु(cid:7076)ा (cid:7079)बंध (भारत से बाहर के िनवासी (cid:7408)कसी (cid:7390)ि(cid:7334) (cid:7367)ारा (cid:7079)ितभूित का अंतरण अथवा िनग(cid:6981)म) िविनयमावली, 2000 (3 मई 2000
क(cid:7409) अिधसूचना सं. फेमा. 20/2000-आरबी) क(cid:7409) अनुसूची-1 के अनुबंध "बी" म(cid:7286) िन(cid:7388)वत पैरा(cid:7061)ाफ़(cid:7298) को िन(cid:7388)िलिखत से (cid:7079)ित(cid:7021)थािपत (cid:7408)कया
जाएगा, अथा(cid:6981)त :
5639 GI/2016 (1)(cid:32)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)]
(cid:7059).स.ं (cid:6979)(cid:7074)े / गितिविध िवदशे ी िनवशे क(cid:7409) (cid:7079)वेश माग (cid:6981)
कैप (सीमा)
का (cid:7079)ितशत
कृिष
1. कृिष और पशपु ालन
ए) िनयंि(cid:7074)त प(cid:7407)रि(cid:7021)थितय(cid:7298) म(cid:7286) पु(cid:7020) पो(cid:7004) पादन, बागबानी तथा सि(cid:7011)जय(cid:7298) और मश(cid:7272)म 100% (cid:7021)व चािलत
क(cid:7409) खेती;
बी) बीज(cid:7298) और रोपण साम(cid:7061)ी का िवकास और उ(cid:7004) पादन;
सी) पशुपालन ((cid:7019) वान-(cid:7079)जनन सिहत), मछली-पालन, जलीय कृिष
(अ(cid:6989) वाक(cid:7016) चर); और मधुम(cid:6989)खी-पालन; तथा
डी) कृिष और संब(cid:7373) (cid:6979)े(cid:7074)(cid:7298) से संबंिधत सेवाएं ।
(cid:7407)ट(cid:7009)प णी: उपय(cid:6989)ु(cid:6981) त के अलावा, अ(cid:7008)य (cid:7408)कसी कृिष (cid:6979)(cid:7074)े / गितिविध म (cid:7286)िवदशे ी िनवशे
क(cid:7409) अनमु ित नह(cid:7277) है।
1.1 अ(cid:7008) य शत(cid:7288):
‘िनयंि(cid:7074)त प(cid:7407)रि(cid:7021)थितय(cid:7298) के तहत’ श(cid:7011) दावली िनम् निलिखत को कवर करती ह:ै
(i) पु(cid:7020) प उ(cid:7004) पादन, बागबानी, सि(cid:7011)जय(cid:7298) और मश(cid:7272)म क(cid:7409) खेती वाली (cid:7088)ेिणय(cid:7298) के िलए ‘िनयंि(cid:7074)त प(cid:7407)रि(cid:7021)थितय(cid:7298) के तहत खेती’ खेती
का एक ऐसा तरीका है िजसम(cid:7286) वषा(cid:6981), तापमान, सूय(cid:6981) िव(cid:7408)करण, वायु-आ(cid:7076)त(cid:6981) ा और खेती क(cid:7409) िविधय(cid:7298) (culture) को कृि(cid:7074)म (cid:7272)प से
िनयंि(cid:7074)त (cid:7408)कया जाता ह।ै सुरि(cid:6979)त खेती के ज(cid:7407)रए इन मानदडं (cid:7298) म(cid:7286) िनयं(cid:7074)ण (cid:7061)ीन हाउस, नेट हाउस, पॉली हाउस से या (cid:7408)कसी
अ(cid:7008)य प(cid:7407)रव(cid:7414)धत इं(cid:7080)ा(cid:7021) (cid:7069)(cid:6989) चर सुिवधा(cid:7312) - जहां सू(cid:7023) म मौसमी प(cid:7407)रि(cid:7021)थितय(cid:7298) को मानवीय ह(cid:7021) त(cid:6979)ेप से िनयिं (cid:7074)त (cid:7408)कया जाता ह।ै
5. िविनमाण(cid:6981) (मनै फु ै(cid:6989)च(cid:7411)रग) 100% (cid:7021)व चािलत
इन िविनयमावली के (cid:7079)ावधान(cid:7298) क(cid:7409) शत(cid:7300) के अधीन रहते (cid:7263)ए 'िविनमाण(cid:6981) (मैनुफै(cid:6989)च(cid:7411)रग)' (cid:6979)े(cid:7074) म (cid:7286) (cid:7021)वचािलत माग(cid:6981) के तहत िवदशे ी
िनवेश क(cid:7409) अनमु ित ह।ै यह भी (cid:7408)क, िविनमा(cid:6981)ता भारत म(cid:7286) िविन(cid:7414)मत अपने उ(cid:7004)पाद(cid:7298) को सरकारी अनमु ोदन के िबना ई-कॉमस(cid:6981) सिहत
थोक / रीटेल सेल के मा(cid:7007)यम से बेच सकता ह ै । (cid:7069)ेड (cid:6979)े(cid:7074) से संबंिधत िवदशे ी िनवेश नीित के (cid:7079)ावधान(cid:7298) म(cid:7286) (cid:7408)कसी भी बात के होत े
(cid:7263)ए भी, भारत म (cid:7286) िविन(cid:7414)मत और/ अथवा उ(cid:7004)पा(cid:7408)दत खा(cid:7378) उ(cid:7004)पाद(cid:7298) क(cid:7409) (cid:7069)े(cid:7410)डग, ई-कॉमस (cid:6981) सिहत, म (cid:7286) सरकारी अनुमोदन माग(cid:6981) के
तहत 100% िवदशे ी िनवेश क(cid:7409) अनमु ित ह।ै खा(cid:7378) उ(cid:7004)पाद(cid:7298) क(cid:7409) रीटेल (cid:7069)े(cid:7410)डग म (cid:7286) िवदशे ी िनवेश संबंधी आवेदन(cid:7298) को सरकारी
अनुमोदन दने े से पूव(cid:6981) औ(cid:7378)ोिगक नीित एवं संवध(cid:6981)न बोड(cid:6981) (cid:7367)ारा उ(cid:7008)ह (cid:7286)(cid:7079)ोसेस (cid:7408)कया जाएगा।
6. र(cid:6979)ा
6.1 र(cid:6979)ा उ(cid:7378)ोग, उ(cid:7378)ोग (िवकास और िविनयमन) अिधिनयम, 1951 के तहत 100% 49% तक (cid:7021)वचािलत माग(cid:6981)
से।
औ(cid:7378)ोिगक लाइस(cid:7286)स के अधीन है; और
49% के प(cid:7391)ात सरकारी
छोटे आयुध एवं गोला-बा(cid:7272)द का िविनमाण(cid:6981) आयुध अिधिनयम, 1959 के अधीन
माग(cid:6981) से, जहां आधुिनक
होगा।
(cid:7079)ौ(cid:7378)ोिगक(cid:7409) अथवा ऐसे अ(cid:7008)य
कारण िज(cid:7008)ह(cid:7286) रेकॉड(cid:6981) (cid:7408)कया
जाना अपेि(cid:6979)त ह।ै
6.2 अ(cid:7008)य शत (cid:7288)
i.(cid:32) अनुमत (cid:7021)वचािलत माग(cid:6981) के (cid:7021)तर पर ऐसी कंपनी म(cid:7286) नया िवदशे ी िनवेश (cid:7079)ा(cid:7385) करना, जो औ(cid:7378)ोिगक लाइसे(cid:7008)स नह(cid:7277) चाहती
ह,ै (cid:7408)क(cid:7008)तु उसके (cid:7021)वािम(cid:7004)व का (cid:7079)कार बदलने अथवा मौजूदा िनवेशक क(cid:7409) कंपनी म(cid:7286) िह(cid:7021)सेदारी नए िवदशे ी िनवेशक को
अंत(cid:7407)रत करने के प(cid:7407)रणाम (cid:7021)व(cid:7272)प (cid:7080)ेश िनवेश के िलए सरकार का अनुमोदन आव(cid:7019)यक होगा।
ii.(cid:32) लाइस(cid:7286)स आवेदन(cid:7298) पर िवचार (cid:7408)कया जाएगा और र(cid:6979)ा मं(cid:7074)ालय एवं िवदशे मं(cid:7074)ालय से परामश(cid:6981) के बाद औ(cid:7378)ोिगक नीित एव ं
संव(cid:7373)न(cid:6981) िवभाग ,वािण(cid:6996)य मं(cid:7074)ालय (cid:7367)ारा लाइस(cid:7286)स जारी (cid:7408)कए जाएंगे।
iii.(cid:32) इस (cid:6979)े(cid:7074) म(cid:7286) िवदशे ी िनवेश क(cid:7409) अनुमित र(cid:6979)ा मं(cid:7074)ालय (cid:7367)ारा सुर(cid:6979)ा संबंधी ि(cid:6989)लयर(cid:7286)स तथा उनके (cid:7408)दशािनदश(cid:7287) (cid:7298) के अधीन
होगी ।
iv.(cid:32) िनवेश (cid:7079)ा(cid:7385)कता(cid:6981) कंपनी का ढांचा इस (cid:7079)कार का होना चािहए (cid:7408)क वह उ(cid:7004)पाद िडजाइन एवं िवकास के मामले म(cid:7286) आ(cid:7004)मिनभ(cid:6981)र
हो। उ(cid:7004)पादन सुिवधा सिहत िनवेश (cid:7079)ा(cid:7385)कता(cid:6981) कंपनी/ संयु(cid:7334) उ(cid:7378)म कंपनी के पास भारत म(cid:7286) िन(cid:7414)मत उ(cid:7004)पाद(cid:7298) के म(cid:7286)(cid:7407)टन(cid:7286)स एवं
लाइफ साइ(cid:7408)कल सपोट(cid:6981) क(cid:7409) भी सुिवधा होनी चािहए।¹Hkkx IIµ[k.M 3(i)º Hkkjr dk jkti=k % vlk/kj.k 3
सवे ा (cid:6979)(cid:7074)े
सचू ना सवे ाएँ
7 (cid:7079)सारण
7.1 (cid:7079)सारण वाहक सवे ाएं
7.1.1 (1) टेलीपोट(cid:6981) (अप-(cid:7410)ल(cid:7408)कग एचयूबी/टेलीपोट(cid:6981) क(cid:7409) (cid:7021) थापना) 100% (cid:7021) वचािलत माग(cid:6981)
(2) डायरे(cid:6989) ट टू होम (डीटीएच)
(3) केबल नेटवक(cid:6981) (रा(cid:7020) (cid:7069)ीय या रा(cid:6996)य या िजला (cid:7021) तर पर प(cid:7407)रचालन करने वाले और
िडिजटलाइजेशन एवं अ(cid:7071)ेसिबिलटी के िलए नेटवक(cid:6981) अप(cid:7061)ेडशन का काम करनेवाले
म(cid:7016) टी िस(cid:7021) टम ऑपरेटर (एमएसओ)
(4) मोबाइल टीवी
(5) हडे एंड-इन-द-(cid:7021)काई (cid:7081)ॉडका(cid:7410)(cid:7021)टग स(cid:7414)वस (एचआईटीएस)
7.1.2 केबल नेटवक(cid:6981) [अ(cid:7008) य एमएसओ, जो िडिजटलाइजेशन और अ(cid:7071)ेसिबिलटी के िलए 100% (cid:7021) वचािलत माग(cid:6981)
नेटवक(cid:6981) अप(cid:7061)ेडेशन का काय(cid:6981) नह(cid:7277) करते ह (cid:7289)और (cid:7021) थानीय केबल ऑपरेटर (एलसीओ)]
नोट: (cid:7408)कसी ऐसी कंपनी म(cid:7286) 49% से अिधक नया िवदशे ी िनवेश (cid:7079)ा(cid:7385) करना, जो अपने (cid:6979)े(cid:7074)-िवशेष से स(cid:7013)ब(cid:7373) मं(cid:7074)ालय स े
अनुमित / लाइसे(cid:7008)स नह(cid:7277) चाहती ह,ै (cid:7408)क(cid:7008)तु उसके (cid:7021)वािम(cid:7004)व का (cid:7079)कार बदलने अथवा मौजूदा िनवेशक क(cid:7409) कंपनी म(cid:7286) िह(cid:7021)सेदारी
नए िवदशे ी िनवेशक को अंत(cid:7407)रत करने के प(cid:7407)रणाम(cid:7021)व(cid:7272)प (cid:7080)ेश िनवेश के िलए सरकार का अनुमोदन आव(cid:7019)यक होगा।
9. नाग(cid:7407)रक उ(cid:7355)यन
9.2 एयरपोट(cid:6981)
(ए)(cid:32) (cid:7061)ीनफ(cid:7409)(cid:7016) ड प(cid:7407)रयोजनाएं 100% (cid:7021)वचािलत माग(cid:6981)
(बी) मौजूदा प(cid:7407)रयोजनाएं 100% (cid:7021)वचािलत माग(cid:6981)
16.3 एकल (cid:7081)ाडं उ(cid:7004)प ाद खदु रा (cid:7018)य ापार (SBRT) 100% 49% तक (cid:7021)वचािलत माग(cid:6981)
से
49% से अिधक सरकारी
माग(cid:6981) से
1) एकल (cid:7081)ांड उ(cid:7004) पाद खुदरा (cid:7018) यापार म(cid:7286) िवदशे ी िनवेश का उ(cid:7374)े(cid:7019) य ह ै - उ(cid:7004) पादन तथा िवपणन म(cid:7286) िनवेश आक(cid:7414)षत करना,
उपभो(cid:6989) ता के िलए ऐसी व(cid:7021) तु(cid:7312) क(cid:7409) उपल(cid:7011) धता म(cid:7286) सुधार लाना, भारत से व(cid:7021) तु(cid:7312) क(cid:7409) बढ़ी सो(cid:7418)सग को (cid:7079)ो(cid:7004) साहन दने ा, तथा
वैि(cid:7393)क िडजाइन(cid:7298), (cid:7079)ौ(cid:7378)ोिग(cid:7408)कय(cid:7298) और (cid:7079)बंधन (cid:7079)था(cid:7312) तक प(cid:7263)ंच के मा(cid:7007) यम से भारतीय उ(cid:7378)म(cid:7298) क(cid:7409) (cid:7079)ित(cid:7021) पधा(cid:6981)(cid:7004)म कता म(cid:7286) वृि(cid:7373)
करना।
2) एकल (cid:7081)ांड उ(cid:7004) पाद खुदरा (cid:7018) यापार म(cid:7286) िवदशे ी िनवेश िन(cid:7013) निलिखत शत(cid:7300) के अधीन (cid:7408)कया जाएगा:
(ए) बेचे जाने वाले उ(cid:7004) पाद केवल ‘एकल (cid:7081)(cid:7289)ड’ ((cid:7410)सगल (cid:7081)(cid:7289)ड) के ह(cid:7298)गे।
(बी) उ(cid:7004) पाद एक ही (cid:7081)(cid:7289)ड के अधीन अंतररा(cid:7020) (cid:7069)ीय (cid:7021) तर पर बेचे जाने चािहए अथा(cid:6981)त भारत से इतर एक या अिधक दशे (cid:7298) म(cid:7286) उ(cid:7004)प ाद
एक ही (cid:7081)(cid:7289)ड के अधीन बेचे जाने चािहए।
(सी) ‘एकल (cid:7081)(cid:7289)ड’ उ(cid:7004) पाद के खुदरा (cid:7018) यापार म(cid:7286) वही उ(cid:7004) पाद शािमल ह(cid:7298)गे िजनको िविनमा(cid:6981)ण के दौरान (cid:7081)(cid:7289)डेड (cid:7408)कया जाता ह।ै
(डी) (cid:7408)कसी अिनवासी सं(cid:7021) था / सं(cid:7021)था(cid:7312) को, चाह े वह (cid:7081)(cid:7289)ड क(cid:7409) मािलक हो अथवा अ(cid:7008) यथा, िविश(cid:7020) ट (cid:7081)(cid:7289)ड के संबंध म(cid:7286) (cid:7410)सगल (cid:7081)ांड
उ(cid:7004) पाद खुदरा (cid:7018) यापार के िलए (cid:7081)(cid:7289)ड के मािलक के साथ (cid:7408)कए गए कानूनी तौर पर मा(cid:7008) य करार के अधीन, िविश(cid:7020)ट (cid:7081)(cid:7289)ड के िलए
दशे म(cid:7286) (cid:7410)सगल (cid:7081)(cid:7289)ड उ(cid:7004) पाद खुदरा (cid:7018) यापार करने क(cid:7409) अनुमित दी जाएगी। इस शत(cid:6981) के अनुपालन क(cid:7409) िज(cid:7013) मेदारी भारत म(cid:7286) (cid:7410)सगल
(cid:7081)(cid:7289)ड उ(cid:7004) पाद खुदरा (cid:7018) यापार करने वाली भारतीय एं(cid:7407)टटी क(cid:7409) होगी। िनवेश करने वाली सं(cid:7021) था इस आशय का (cid:7079)माण अनुमोदन
(cid:7079)ा(cid:7009) त करते समय (cid:7079)(cid:7021) तुत करेगी, िजसम(cid:7286) उपयु(cid:6981)(cid:6989) त शत(cid:6981) के अनुपालन को िविश(cid:7020) ट (cid:7272)प से दशा(cid:6981)ने वाले लाइस(cid:7286)स / (cid:7080)ै(cid:7008)च ाइज़ / उप
लाइस(cid:7286)स करार क(cid:7409) (cid:7079)ित शािमल होगी। (cid:7021)वचािलत माग(cid:6981) के िलए अपेि(cid:6979)त सा(cid:7023)य भारतीय (cid:7407)रज़व(cid:6981) ब(cid:7289)क के पास और अनुमोदन
लेने वाले मामले SIA/FIPB के पास फाइल (cid:7408)कए जाने चािहए।4 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)]
(ई) 51% से अिधक (cid:7079)(cid:7004) य(cid:6979) िवदशे ी िनवेश संबंधी (cid:7079)(cid:7021) ताव(cid:7298) के िलए, खरीदी गयी व(cid:7021) तु(cid:7312) के मू(cid:7016) य के 30% क(cid:7409) सो(cid:7418)सग भारत से
क(cid:7409) जाएगी, िजसके िलए सभी (cid:6979)े(cid:7074)(cid:7298) म(cid:7286) सू(cid:7023)म, लघु एवं मा(cid:7007)यम उ(cid:7378)ोग (MSME), (cid:7061)ामीण तथा कुटीर उ(cid:7378)ोग(cid:7298), कारीगर(cid:7298)
तथा िश(cid:7016) पकार(cid:7298) को वरीयता दी जाएगी। दसे ी सो(cid:7418)सग क(cid:7409) मा(cid:7074)ा का कंपनी (cid:7367)ारा (cid:7021) व-(cid:7079)माणन (cid:7408)कया जाएगा, िजसक(cid:7409) जाचं
कंपनी (cid:7367)ारा रखे गए िविधवत (cid:7079)मािणत खात(cid:7298) से सािं विधक लेखा-परी(cid:6979)क(cid:7298) (cid:7367)ारा क(cid:7409) जाएगी। खरीद क(cid:7409) यह अपे(cid:6979)ा कंपनी
(cid:7367)ारा कारोबार शु(cid:7272) करने के वष(cid:6981) अथा(cid:6981)त (cid:7079)थम (cid:7021)टोर क(cid:7409) शु(cid:7271)आत वाले वष(cid:6981) क(cid:7409) 01 अ(cid:7079)ैल से क(cid:7409) जाएगी, िजसम(cid:7286) कंपनी को
अपने िपछले पाँच वष(cid:7300) के माल क(cid:7409) खरीद के औसत म(cid:7016)ू य का िववरण दने ा होगा। बाद म(cid:7286) इस अपे(cid:6979)ा को वा(cid:7414)षक आधार पर
पूरा (cid:7408)कया जाएगा। सो(cid:7418)सग क(cid:7409) अपे(cid:6979)ा के िनधा(cid:6981)रण के (cid:7079)योजन के िलए, संबंिधत सं(cid:7021) था भारत म(cid:7286) िनगिमत वह कंपनी होगी,
िजसने (cid:7410)सगल (cid:7081)(cid:7289)ड उ(cid:7004) पाद रीटेल (cid:7018) यापार हते ु िवदशे ी िनवेश (cid:7079)ा(cid:7009) त (cid:7408)कया हो।
(एफ़) उपयु(cid:6981)(cid:7334) पैरा क(cid:7409) शत(cid:7300) के अधीन, िजन (cid:7410)सगल (cid:7081)ांड रीटेल कंपिनय(cid:7298) के (cid:7021)टोर भौितक (cid:7272)प से मौजूद ह(cid:7289), उ(cid:7008)ह (cid:7286) ई-कॉमस(cid:6981) के
मा(cid:7007) यम से रीटेल (cid:7069)े(cid:7410)डग करने क(cid:7409) अनुमित होगी।
3) भारत म(cid:7286) ‘(cid:7410)सगल (cid:7081)(cid:7289)ड’ उ(cid:7004) पाद(cid:7298) के खुदरा (cid:7018) यापार का (cid:7079)(cid:7021)ताव करने वाली कंपनी म(cid:7286) 49% से अिधक िवदशे ी िनवेश के िलए
भारत सरकार से अनुमित (cid:7079)ा(cid:7009) त करने हते ु आवेदन औ(cid:7378)ोिगक नीित और संवध(cid:6981)न िवभाग म(cid:7286) औ(cid:7378)ेिगक सहायता सिचवालय
(SIA) को (cid:7079)(cid:7021)तुत (cid:7408)कए जाएंगे। आवेदन प(cid:7074) म(cid:7286) उन उ(cid:7004) पाद(cid:7298) / उ(cid:7004)प ाद क(cid:7409) (cid:7088)ेिणय(cid:7298) का िविश(cid:7020) ट (cid:7272)प से उ(cid:7016)ल ेख (cid:7408)कया जाए िजनका
‘(cid:7410)सगल (cid:7081)ांड’ के अधीन िव(cid:7059)य (cid:7079)(cid:7021) तािवत ह।ै ‘(cid:7410)सगल (cid:7081)(cid:7289)ड’ के अधीन िव(cid:7059)य (cid:7408)कए जाने वाले (cid:7408)कसी उ(cid:7004) पाद/उ(cid:7004) पाद (cid:7088)ेिणय(cid:7298) म(cid:7286) कुछ
भी जोड़ने के िलए सरकार से नया अनुमोदन (cid:7079)ा(cid:7009) त करना होगा। 49% तक िवदशे ी िनवेश के मामले म(cid:7286), खा(cid:7378) उ(cid:7004)पाद(cid:7298) को
छोड़कर, उ(cid:7004) पाद(cid:7298) / उ(cid:7004) पाद क(cid:7409) (cid:7088)ेिणय(cid:7298) क(cid:7409) सूची भारतीय (cid:7407)रज़व(cid:6981) ब(cid:7289)क को उपल(cid:7011)ध करायी जाएगी।
(4) आवेदन(cid:7298) पर कार(cid:6981)वाई औ(cid:7378)ोिगक नीित तथा संवध(cid:6981)न िवभाग म(cid:7286) क(cid:7409) जाएगी, िजसम(cid:7286) यह िनधा(cid:6981)रण (cid:7408)कया जाएगा (cid:7408)क सरकार
से अनुमोदन (cid:7079)ा(cid:7009) त करने के िलए FIPB (cid:7367)ारा िवचार करने से पहले (cid:6989) या (cid:7079)(cid:7021) तािवत िनवेश अिधसूिचत (cid:7408)दशा-िनदश(cid:7287) (cid:7298) को पूरा
करते ह।(cid:7289)
नोट :
i. भारतीय (cid:7081)ांड के (cid:7410)सगल (cid:7081)ांड रीटेल (cid:7069)ेड (SBRT) के संबंध म(cid:7286) उपयु(cid:6981)(cid:7334) पैरा (2)(बी) एवं (2)(डी) क(cid:7409) शत(cid:7288) लागू नह(cid:7277) ह(cid:7298)गी।
ii. भारतीय (cid:7081)ांड के िनमा(cid:6981)ता को अपने िन(cid:7414)मत उ(cid:7004)पाद(cid:7298) को ई-कॉमस(cid:6981) सिहत थोक, खुदरा अथवा (cid:7408)कसी भी (cid:7272)प म(cid:7286) बेचने क(cid:7409)
अनुमित ह।ै
iii. भारतीय िनमा(cid:6981)ता को िनवेश (cid:7079)ा(cid:7385)कता(cid:6981) कंपनी माना जाएगा, जहां वह भारतीय (cid:7081)ांड क(cid:7409) मािलक ह ैऔर जो भारत म(cid:7286) िनमा(cid:6981)ण
करती है, वह अपने उ(cid:7004)पाद(cid:7298) के मू(cid:7016)य के अनुसार कम से कम 70% उ(cid:7004)पाद(cid:7298) िनमा(cid:6981)ण घरेलू आधार पर और अिधकतम 30%
उ(cid:7004)पाद(cid:7298) का िनमा(cid:6981)ण भारतीय िनमा(cid:6981)ता(cid:7312) के मा(cid:7007)यम से करती ह।ै
iv. भारतीय (cid:7081)ांड का (cid:7021)वािम(cid:7004)व और िनयं(cid:7074)ण िनवासी भारतीय नाग(cid:7407)रक(cid:7298) के पास होना चािहए और/अथवा ऐसी कंपिनय(cid:7298) के
पास होना चािहए िजसका (cid:7021)वािम(cid:7004)व और िनयं(cid:7074)ण िनवासी भारतीय नाग(cid:7407)रक(cid:7298) के पास हो।
v. "अ(cid:7004)याधुिनक" एवं "उ(cid:7340)तम तकनीक" वाले उ(cid:7004)पाद(cid:7298) से संबि(cid:7008)धत एंटीटीय(cid:7298) के मामल(cid:7298) म (cid:7286) जहां (cid:7021)थानीय सो(cid:7418)सग संभव नह(cid:7277) ह ै
ऐसी एं(cid:7407)ट(cid:7407)टय(cid:7298) के संबंध म(cid:7286) उनके कारोबार (cid:7079)ार(cid:7013)भ करने क(cid:7409) तारीख से अथा(cid:6981)त (cid:7079)थम (cid:7021)टोर खोलने क(cid:7409) तारीख से अगले तीन वष(cid:7300)
तक क(cid:7409) अविध हते ु सो(cid:7418)सग संबंधी (cid:7079)ावधान लागू नह(cid:7277) ह(cid:7298)गे। इसके प(cid:7391)ात पैरा(cid:7061)ाफ (2) (ई) म(cid:7286) िविन(cid:7416)द(cid:7397) (cid:7079)ावधान लागू ह(cid:7298)गे।
17. फामा(cid:7021)(cid:6981) य(cid:7407)ू टकल
17.1 (cid:7061)ीन फ(cid:7409)(cid:7016)ड 100% (cid:7021)वचािलत
17.2 (cid:7081)ाउन फ(cid:7409)(cid:7016)ड 100% 74% तक (cid:7021)वचािलत,
74% से अिधक सरकारी
माग(cid:6981) से
17.3 अ(cid:7008)य शत(cid:7288)
(i)(cid:32) िवदशे ी िनवेश संवध(cid:6981)न बोड(cid:6981) (FIPB) के अनुमोदन से केवल िविश(cid:7397) प(cid:7407)रि(cid:7021)थितय(cid:7298) को छोडकर (cid:7021)वचािलत अथवा
सरकारी अनुमोदन माग(cid:6981) म(cid:7286) ‘गैर(cid:7079)ित(cid:7021)पध(cid:7278)-’ खंड क(cid:7409) अनुमित नह(cid:7277) होगी ।
(ii)(cid:32) भावी िनवेशक एवं िनवेश (cid:7079)ा(cid:7385)कता(cid:6981) के िलए यह अपेि(cid:6979)त होगा (cid:7408)क िवदशे ी िनवेश संवध(cid:6981)न बोड(cid:6981) (FIPB) आवेदन के
साथ पैरा 17.4 म(cid:7286) उि(cid:7016)लिखतानुसार उ(cid:7334) आशय का (cid:7079)माणप(cid:7074) (cid:7079)(cid:7021)तुत कर(cid:7286)।
(iii)(cid:32) (cid:7081)ाउनफ(cid:7409)(cid:7016)ड मामल(cid:7298) म(cid:7286) िवदशे ी िनवेश के िलए अनुमोदन दते े समय सरकार उिचत शत(cid:7288) लगा सकती ह।ै
(iv)(cid:32) (cid:7021)वचािलत तथा सरकारी अनुमोदन माग(cid:6981) दोन(cid:7298) के अंतग(cid:6981)त (cid:7081)ाउनफ(cid:7409)(cid:7016)ड फमा(cid:6981)(cid:7021)यू(cid:7407)टक(cid:7016)स म (cid:7286) िवदशे ी िनवेश इसके¹Hkkx IIµ[k.M 3(i)º Hkkjr dk jkti=k % vlk/kj.k 5
अलावा िन(cid:7388)िलिखत शत(cid:7300) के अधीन होगा:
ए) आवयशक दवाइय(cid:7298) क(cid:7409) रा(cid:7398)ीय सूची (NLEM) औषिधय(cid:7298) और/ अथवा उपभो(cid:6996)य व(cid:7021)तु(cid:7312) का उ(cid:7004)पादन (cid:7021)तर तथा
एफ़डीआई (cid:7079)व(cid:7414)तत करते समय घरेलू बाज़ार म(cid:7286) उनक(cid:7409) आपू(cid:7414)त अगले पाँच वष(cid:7300) म(cid:7286) पूण(cid:6981)तया मा(cid:7074)ा(cid:7004)मक (cid:7021)तर पर बनी
रहे। इस (cid:7021)तर के िलए ब(cid:7286)चमाक(cid:6981), िवदशे ी िनवेश (cid:7079)वत(cid:6981)न वष(cid:6981) के तुरंत िपछले वष(cid:6981) से अगले तीन िव(cid:7275)ीय वष(cid:7300) म(cid:7286) NLEM
औषिधय(cid:7298) और/ अथवा उपभो(cid:6996)य व(cid:7021)तु(cid:7312) के उ(cid:7004)पादन (cid:7021)तर के संदभ(cid:6981) म(cid:7286) िनधा(cid:6981)(cid:7407)रत (cid:7408)कया जाएगा। इनम(cid:7286) से, इन तीन
वष(cid:7300) म(cid:7286) से उ(cid:7004)पादन के उ(cid:7340)(cid:7275)म (cid:7021)तर को (cid:7021)तर के (cid:7272)प म(cid:7286) िलया जाएगा।
बी) िवदशे ी िनवेश (cid:7079)व(cid:7414)तत करते समय अनुसंधान एवं िवकास (R&D) पर (cid:7408)कए गए खच(cid:6981) को पूण(cid:6981)तया मा(cid:7074)ा(cid:7004)मक (cid:7021)तर
पर मू(cid:7016)य के अथ(cid:6981) म(cid:7286) पाँच वष(cid:7300) के िलए बनाए रखना। इस (cid:7021)तर के िलए ब(cid:7286)चमाक(cid:6981) का िनधा(cid:6981)रण िवदशे ी िनवेश (cid:7079)वत(cid:6981)न
वष(cid:6981) के तुरंत िपछले वष(cid:6981) से अगले (cid:7408)कसी तीन वष(cid:7300) म(cid:7286) (cid:7263)ए अनुसंधान एवं िवकास (R&D) खच(cid:6981) के उ(cid:7340)(cid:7275)म (cid:7021)तर के
संदभ(cid:6981) म(cid:7286) (cid:7408)कया जाएगा।
सी) िनवेश (cid:7079)ा(cid:7385)कता(cid:6981) कंपनी (cid:7367)ारा अपने संबंिधत (cid:7079)शासिनक मं(cid:7074)ालय को अपने (cid:7367)ारा (cid:7079)ा(cid:7385) िवदशे ी िनवेश सिहत
(cid:7079)ो(cid:7378)ोिगक(cid:7409) का अंतरण, य(cid:7408)द कोई हो, संबंधी संपूण(cid:6981) जानकारी भी उपल(cid:7011)ध कराई जाएगी।
डी) क(cid:7286)(cid:7076) सरकार (cid:7367)ारा समय-समय पर अिधसूिचत (cid:7079)शासिनक मं(cid:7074)ालय(cid:7298) यथा (cid:7021)वा(cid:7021)(cid:7005)य एवं प(cid:7407)रवार क(cid:7016)याण मं(cid:7074)ालय,
औषध िवभाग अथवा अ(cid:7008)य कोई िनयामक एज(cid:7286)सी/िवकास, शत(cid:7300) के अनुपालन क(cid:7409) जांच कर(cid:7286)गे।
नोट :
i. मेिडकल िडवाइस (उपकरण) के उ(cid:7004)पादन हते ु (cid:7021)वचािलत माग(cid:6981) से 100% िवदशे ी िनवेश क(cid:7409) अनुमित ह।ै अतः उि(cid:7016)लिखत शत(cid:7288)
इस उ(cid:7378)ोग के (cid:7061)ीनफ(cid:7409)(cid:7016)ड तथा (cid:7081)ाउनफ(cid:7409)(cid:7016)ड प(cid:7407)रयोजना(cid:7312) पर लागू नह(cid:7277) ह(cid:7298)गी।
ii. मेिडकल िडवाइस (उपकरण) अथा(cid:6981)त :-
ए) िविनमात(cid:6981) ा (cid:7367)ारा अपेि(cid:6979)त सॉ(cid:7010)टवेयर सिहत कोई भी यं(cid:7074) (instrument), उपकरण (apparatus), औज़ार
(appliances), इं(cid:7009)लांट, साम(cid:7061)ी अथवा अ(cid:7008)य व(cid:7021)तुएँ, जो अकेले अथवा अ(cid:7008)य उपकरण(cid:7298) के साथ िमलकर िवशेषतः
मनु(cid:7020)य अथवा पशु(cid:7312) के िलए िन(cid:7388)िलिखत एक अथवा ब(cid:7263)िवध िविश(cid:7397) उ(cid:7374)े(cid:7019)य(cid:7298) से उपयोग म(cid:7286) लाये जाते ह(cid:7298), जैसे :
(एए) (cid:7408)कसी बीमारी अथवा िवकार क(cid:7409) पहचान, रोकथाम, िनगरानी, इलाज अथवा उससे राहत के िलए;
(एबी) (cid:7408)कसी ज(cid:6990)म अथवा िवकलांगता क(cid:7409) पहचान, िनगरानी, इलाज, उससे राहत अथवा सहायता के िलए;
(एसी) शारी(cid:7407)रक संरचना अथवा शरीर िव(cid:6980)ान (cid:7079)(cid:7408)(cid:7059)या के तहत जांच, बदलाव अथवा सुधार अथवा सहायता के िलए
(एडी) जीवन-र(cid:6979)ा और जान बचाने म(cid:7286) सहायक;
(एई) मेिडकल िडवाइस(cid:7298) (उपकरण) का िवसं(cid:7059)मण;
(एएफ) गभा(cid:6981)धान िनयं(cid:7074)ण
एवं ऐसे उपकरण, जो मनु(cid:7020)य अथवा पशु(cid:7312) के शरीर पर / म(cid:7286) (cid:7408)कसी औषधीय अथवा (cid:7079)ितर(cid:6979)ा(cid:7004)मक और चयापचय के
मा(cid:7007)यम से अपनी मूल कार(cid:6981)वाई के उ(cid:7374)े(cid:7019)य को सीधे (cid:7079)ा(cid:7385) नह(cid:7277) करते ह(cid:7289), (cid:7408)क(cid:7008)तु इन मा(cid:7007)यम(cid:7298) के काय(cid:6981) म(cid:7286) सहायक होते ह(cid:7289);
बी) इस (cid:7079)कार के यं(cid:7074), उपकरण(cid:7298), औज़ार(cid:7298), साम(cid:7061)ी अथवा अ(cid:7008)य व(cid:7021)तु(cid:7312) के सहायक उप-साधन;
(सी) उपकरण जो अिभकम(cid:6981)क (regeant), अिभकम(cid:6981)क-उ(cid:7004)पाद, कैिल(cid:7081)ेटर (Calibrator), िनयं(cid:7074)ण साम(cid:7061)ी, (cid:7408)कट, इ(cid:7008)(cid:7021)(cid:7216)म(cid:7286)ट,
उपकरण (apparatus), औज़ार (instrument) अथवा िस(cid:7021)टम जो अकेले अथवा (cid:7408)कसी अ(cid:7008)य उपकरण के साथ परी(cid:6979)ण
एवं िच(cid:7408)क(cid:7004)सा अथवा िनदान के उ(cid:7374)े(cid:7019)य से सूचना दने े के िलए मनु(cid:7020)य अथवा पशु(cid:7312) के शरीर के नमूने (specimens) के
िव(cid:7069)ो-परी(cid:6979)ण के िलए उपयोग म(cid:7286) लाए जाते ह(cid:7298);
iii. उपयु(cid:6981)(cid:7334) नोट (ii) म(cid:7286) दी गई िच(cid:7408)क(cid:7004)सा उपकरण क(cid:7409) प(cid:7407)रभाषा औषिध और (cid:7079)साधन सामा(cid:7061)ी अिधिनयम,1940 म(cid:7286) समय-समय
पर संशोधन के अधीन होगी।
17.4 भावी िनवशे क तथा भावी िनवशे (cid:7079)ा(cid:7385)कता (cid:6981)एंटीटी (cid:7367)ारा (cid:7079)(cid:7021)ततु (cid:7408)कया जान ेवाला (cid:7079)माणप(cid:7074)
(cid:7079)मािणत (cid:7408)कया जाता ह ै(cid:7408)क िन(cid:7388)िलिखत सभी पार(cid:7021)प(cid:7407)रक करार(cid:7298) क(cid:7409) संपूण(cid:6981) सूची ह ैिजसम(cid:7286) , िवदशे ी िनवेशक(क(cid:7298)) तथा िनवेश
(cid:7079)ा(cid:7385)कता(cid:6981) (cid:7081)ाउनफ(cid:7409)(cid:7016)ड फामा(cid:6981)(cid:7021)यु(cid:7407)टकल एंटीटी के बीच (cid:7408)कया (cid:7263)आ शेयर-धारक करार शािमल ह।ै
1.(cid:32) .........................
2.(cid:32) .........................
3.(cid:32) .........................6 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)]
(सभी समझौत(cid:7298) क(cid:7409) (cid:7079)ितयाँ संल(cid:7336) ह)(cid:7289)
यह भी (cid:7079)मािणत (cid:7408)कया जाता ह ै(cid:7408)क िवदशे ी िनवेशक(क(cid:7298)) तथा िनवेश (cid:7079)ा(cid:7385)कता(cid:6981) (cid:7081)ाउनफ(cid:7409)(cid:7016)ड फामा(cid:6981)(cid:7021)यु(cid:7407)टकल एंटीटी के बीच
(cid:7408)कए (cid:7263)ए पार(cid:7021)प(cid:7407)रक करार िजसम(cid:7286) शेयर-धारक करार शािमल ह,ै म(cid:7286) (cid:7408)कसी (cid:7079)कार म(cid:7286), जो भो हो, गैर-(cid:7079)ित(cid:7021)पध(cid:7278) खंड
िनिहत नह(cid:7277) ह।ै
साथ ही, यह भी (cid:7079)मािणत (cid:7408)कया जाता ह ै (cid:7408)क िवदशे ी िनवेशक(क(cid:7298)) तथा िनवेश (cid:7079)ा(cid:7385)कता(cid:6981) (cid:7081)ाउनफ(cid:7409)(cid:7016)ड फामा(cid:6981)(cid:7021)यु(cid:7407)टकल
एंटीटी के बीच उपयु(cid:6981)(cid:7334) सूचीब(cid:7373) के अलावा कोई और संिवदा/ करार नह(cid:7277) ह।ै
िवदशे ी िनवेशक(क(cid:7298)) तथा िनवेश (cid:7079)ा(cid:7385)कता(cid:6981) (cid:7081)ाउनफ(cid:7409)(cid:7016)ड फामा(cid:6981)(cid:7021)यु(cid:7407)टकल एंटीटी वचनब(cid:7373) ह ै(cid:7408)क इस आवेदन के (cid:7079)(cid:7021)तुतीकरण एवं
उस पर िवचार (cid:7408)कए जाने के उपरांत य(cid:7408)द उनके बीच (cid:7408)कसी (cid:7079)कार का पार(cid:7021)प(cid:7407)रक करार होता है, तो वे उसे िवदशे ी िनवेश
संवध(cid:6981)न बोड(cid:6981) (FIPB) को (cid:7079)(cid:7021)तुत कर(cid:7286)गे।
[सं. 1/16/ईएम/2016]
रोिहत जैन, मु(cid:6990)य महा(cid:7079)बंधक
पाद-(cid:7407)ट(cid:7009)पणी :- मूल िविनयमावली 8 मई 2000 को सा.का.िन.सं.406 (अ) भाग-II, खंड 3, उप-खंड (i) के तहत सरकारी राजप(cid:7074) के म(cid:7286)
(cid:7079)कािशत और त(cid:7004)प(cid:7391)ात िन(cid:7388)िलिखत (cid:7367)ारा संशोिधत क(cid:7409) गयी:-
सा.का.िन. सं. 158(अ) (cid:7408)दनांक 02.03.2001 सा.का.िन. सं. 851(अ) (cid:7408)दनांक 01.12.2009
सा.का.िन. सं. 175(अ) (cid:7408)दनांक 13.03.2001 सा.का.िन. सं. 341(अ) (cid:7408)दनांक 21.04.2010
सा.का.िन. सं. 182(अ) (cid:7408)दनांक 14.03.2001 सा.का.िन. सं. 821(अ) (cid:7408)दनांक 10.11.2012
सा.का.िन. सं. 4(अ) (cid:7408)दनांक 02.01.2002 सा.का.िन. सं. 606(अ) (cid:7408)दनांक 03.08.2012
सा.का.िन. सं. 574(अ) (cid:7408)दनांक 19.08.2002 सा.का.िन. सं. 795(अ) (cid:7408)दनांक 30.10.2012
सा.का.िन. सं. 223(अ) (cid:7408)दनांक 18.03.2003 सा.का.िन. सं. 796(अ) (cid:7408)दनांक 30.10.2012
सा.का.िन. सं. 225(अ) (cid:7408)दनांक 18.03.2003 सा.का.िन. सं. 797(अ) (cid:7408)दनांक 30.10.2012
सा.का.िन. सं. 558(अ) (cid:7408)दनांक 22.07.2003 सा.का.िन. सं. 945(अ) (cid:7408)दनांक 31.12.2012
सा.का.िन. सं. 835(अ) (cid:7408)दनांक 23.10.2003 सा.का.िन. सं. 946(अ) (cid:7408)दनांक 31.12.2012
सा.का.िन. सं. 899(अ) (cid:7408)दनांक 22.11.2003 सा.का.िन. सं. 38(अ) (cid:7408)दनांक 22.01.2013
सा.का.िन. सं. 12(अ) (cid:7408)दनांक 07.01.2004 सा.का.िन. सं. 515(अ) (cid:7408)दनांक 30.07.2013
सा.का.िन. सं. 278(अ) (cid:7408)दनांक 23.04.2004 सा.का.िन. सं. 532(अ) (cid:7408)दनांक 05.08.2013
सा.का.िन. सं. 454(अ) (cid:7408)दनांक 16.07.2004 सा.का.िन. सं. 341(अ) (cid:7408)दनांक 28.05.2013
सा.का.िन. सं. 625(अ) (cid:7408)दनांक 21.09.2004 सा.का.िन. सं. 344(अ) (cid:7408)दनांक 29.05.2013
सा.का.िन. सं. 799(अ) (cid:7408)दनांक 08.12.2004 सा.का.िन. सं. 195(अ) (cid:7408)दनांक 01.04.2013
सा.का.िन. सं. 201(अ) (cid:7408)दनांक 01.04.2005 सा.का.िन. सं. 393(अ) (cid:7408)दनांक 21.06.2013
सा.का.िन. सं. 202(अ) (cid:7408)दनांक 01.04.2005 सा.का.िन. सं. 591(अ) (cid:7408)दनांक 04.09.2013
सा.का.िन. सं. 504(अ) (cid:7408)दनांक 25.07.2005 सा.का.िन. सं. 596(अ) (cid:7408)दनांक 06.09.2013
सा.का.िन. सं. 505(अ) (cid:7408)दनांक 25.07.2005 सा.का.िन. सं. 597(अ) (cid:7408)दनांक 06.09.2013
सा.का.िन. सं. 513(अ) (cid:7408)दनांक 29.07.2005 सा.का.िन. सं. 681(अ) (cid:7408)दनांक 11.10.2013
सा.का.िन. सं. 738(अ) (cid:7408)दनांक 22.12.2005 सा.का.िन. सं. 682(अ) (cid:7408)दनांक 11.10.2013
सा.का.िन. सं. 29(अ) (cid:7408)दनांक 19.01.2006 सा.का.िन. सं. 818(अ) (cid:7408)दनांक 31.12.2013
सा.का.िन. सं. 413(अ) (cid:7408)दनांक 11.07.2006 सा.का.िन. सं. 805(अ) (cid:7408)दनांक 30.12.2013
सा.का.िन. सं. 712(अ) (cid:7408)दनांक 14.11.2007 सा.का.िन. सं. 683(अ) (cid:7408)दनांक 11.10.2013
सा.का.िन. सं. 713(अ) (cid:7408)दनांक 14.11.2007 सा.का.िन. सं. 189(अ) (cid:7408)दनांक 19.03.2014
सा.का.िन. सं. 737(अ) (cid:7408)दनांक 29.11.2007 सा.का.िन. सं. 190(अ) (cid:7408)दनांक 19.03.2014
सा.का.िन. सं. 575(अ) (cid:7408)दनांक 05.08.2008 सा.का.िन. सं. 270(अ) (cid:7408)दनांक 07.04.2014
सा.का.िन. सं. 896(अ) (cid:7408)दनांक 30.12.2008 सा.का.िन. सं. 361(अ) (cid:7408)दनांक 27.05.2014¹Hkkx IIµ[k.M 3(i)º Hkkjr dk jkti=k % vlk/kj.k 7
सा.का.िन. सं. 370(अ) (cid:7408)दनांक 30.05.2014 सा.का.िन. सं. 484(अ) (cid:7408)दनांक 11.06.2015
सा.का.िन. सं. 371(अ) (cid:7408)दनांक 30.05.2014 सा.का.िन. सं. 745(अ) (cid:7408)दनांक 30.09.2015
सा.का.िन. सं. 435(अ) (cid:7408)दनांक 08.07.2014 सा.का.िन. सं. 759(अ) (cid:7408)दनांक 06.10.2015
सा.का.िन. सं. 400(अ) (cid:7408)दनांक 12.06.2014 सा.का.िन. सं. 823(अ) (cid:7408)दनांक 30.10.2015
सा.का.िन. सं. 436(अ) (cid:7408)दनांक 08.07.2014 सा.का.िन. सं. 858(अ) (cid:7408)दनांक 16.11.2015
सा.का.िन. सं. 487(अ) (cid:7408)दनांक 11.07.2014 सा.का.िन. सं. 983(अ) (cid:7408)दनांक 17.12.2015
सा.का.िन. सं. 632(अ) (cid:7408)दनांक 02.09.2014 सा.का.िन. सं. 165(अ) (cid:7408)दनांक 15.02.2016
सा.का.िन. सं. 798(अ) (cid:7408)दनांक 13.11.2014 सा.का.िन. सं. 166(अ) (cid:7408)दनांक 15.02.2016
सा.का.िन. सं. 799(अ) (cid:7408)दनांक 13.11.2014 सा.का.िन. सं. 369(अ) (cid:7408)दनांक 30.03.2016
सा.का.िन. सं. 800(अ) (cid:7408)दनांक 13.11.2014 सा.का.िन. सं. 465(अ) (cid:7408)दनांक 28.04.2016
सा.का.िन. सं. 829(अ) (cid:7408)दनांक 21.11.2014 सा.का.िन. सं. 537(अ) (cid:7408)दनांक 20.05.2016
सा.का.िन. सं. 906(अ) (cid:7408)दनांक 22.12.2014 सा.का.िन. सं. 879(अ) (cid:7408)दनांक 09.09.2016
सा.का.िन. सं. 914(अ) (cid:7408)दनांक 24.12.2014 सा.का.िन. सं. 1002(अ) (cid:7408)दनांक 24.10.2016
सा.का.िन. सं. 30(अ) (cid:7408)दनांक 14.01.2015 सा.का.िन. सं. 1003(अ) (cid:7408)दनांक 24.10.2016
सा.का.िन. सं. 183(अ) (cid:7408)दनांक 12.03.2015 सा.का.िन. सं. 1015(अ) (cid:7408)दनांक 27.10.2016
सा.का.िन. सं. 284(अ) (cid:7408)दनांक 13.04.2015 सा.का.िन. सं. 1042(अ) (cid:7408)दनांक 04.11.2016
RESERVE BANK OF INDIA
(Foreign Exchange Department)
(CENTRAL OFFICE)
NOTIFICATION
Mumbai, the 7th December, 2016
No FEMA 381/2016 RB
Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Eighteenth
Amendment) Regulations, 2016
G.S.R.1118(E).— In exercise of the powers conferred by clause (b) of sub-section (3) of Section 6 and Section
47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank of India hereby makes the following
amendments in the Foreign Exchange Management (Transfer or issue of Security by a Person Resident outside India)
Regulations, 2000 (Notification No. FEMA. 20/2000-RB dated 3rd May 2000) (hereinafter referred to as 'the Principal
Regulations'), namely:—
1. Short Title & Commencement
(i) These Regulations may be called the Foreign Exchange Management (Transfer or Issue of Security by a Person
Resident outside India) (Eighteenth Amendment) Regulations, 2016.
(ii) They shall come into force from the date of their publication in the Official Gazette.
2. Amendment to Schedule 1
In Annex B to Schedule 1 of the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident
outside India) Regulations, 2000, (Notification No. FEMA 20/2000-RB dated 3rd May 2000), the following paragraphs
shall be substituted with the following, namely:8 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)]
SL. No Sector/Activity Foreign Investment Entry Route
Cap (% )
Agriculture
1. Agriculture & Animal Husbandry
a)(cid:32) Floriculture, Horticulture and 100% Automatic
Cultivation of Vegetables & Mushrooms
under controlled conditions;
b)(cid:32) Development and production of seeds and
planting material;
c)(cid:32) Animal Husbandry (including breeding of
dogs), Pisciculture, Aquaculture,
Apiculture; and
d)(cid:32) Services related to agro and allied sectors.
Note: Other than the above, foreign
investment is not allowed in any other
agricultural sector/activity
1.1 Other Conditions
The term ‘under controlled conditions’ covers the following:
(i) ‘Cultivation under controlled conditions' for the categories of floriculture, horticulture, cultivation of
vegetables and mushrooms is the practice of cultivation wherein rainfall, temperature, solar radiation, air
humidity and culture medium are controlled artificially. Control in these parameters may be effected
through protected cultivation under green houses, net houses, poly houses or any other improved
infrastructure facilities where micro-climatic conditions are regulated anthropogenically.
5 Manufacturing 100% Automatic
Subject to the provisions of these Regulations, foreign investment in `manufacturing' sector is under
automatic route. Further, a manufacturer is permitted to sell its products manufactured in India through
wholesale and/or retail, including through e-commerce without Government approval. Notwithstanding
the foreign investment policy provisions on trading sector, 100% foreign investment under Government
approval route is allowed for trading, including through e-commerce, in respect of food products
manufactured and/or produced in India. Applications for foreign investment in food products retail
trading would be processed in the Department of Industrial Policy & Promotion before being considered
by the Government for approval.
6. Defence
6.1 Defence Industry subject to Industrial license under 100% Automatic route up to 49%
the Industries (Development & Regulation) Act, 1951;
Government route beyond 49%
and Manufacturing of small arms and ammunition
wherever it is likely to result in
under the Arms Act, 1959
access to modern technology or
for other reasons to be recorded.
6.2 Other Conditions
i.(cid:32) Infusion of fresh foreign investment within the permitted automatic route level, in a company not
seeking industrial license, resulting in change in the ownership pattern or transfer of stake by
existing investor to new foreign investor, will require Government approval.
ii.(cid:32) Licence applications will be considered and licences given by the Department of Industrial Policy &
Promotion, Ministry of Commerce & Industry, in consultation with Ministry of Defence and
Ministry of External Affairs.
iii.(cid:32) Foreign investment in the sector is subject to security clearance and guidelines of the Ministry of
Defence.
iv.(cid:32) Investee company should be structured to be self-sufficient in areas of product design and
development. The investee/joint venture company along with manufacturing facility, should also
have maintenance and life cycle support facility of the product being manufactured in India.
Services Sector
Information Services¹Hkkx IIµ[k.M 3(i)º Hkkjr dk jkti=k % vlk/kj.k 9
7. Broadcasting
7.1 Broadcasting Carriage Services
7.1.1 (1)(cid:32) Teleports (setting up of up-linking 100% Automatic
HUBs/Teleports);
(2)(cid:32) Direct to Home (DTH);
(3)(cid:32) Cable Networks (Multi System
Operators (MSOs) operating at
National or State or District level and
undertaking upgradation of networks
towards digitalization and
addressability):
(4)(cid:32) Mobile TV;
(5)(cid:32) Headend-in-the Sky Broadcasting
Service (HITS)
7.1.2 Cable Networks (Other MSOs not 100% Automatic
undertaking upgradation of networks
towards digitalization and addressability
and Local Cable Operators (LCOs)).
Note: Infusion of fresh foreign investment, beyond 49% in a company not seeking license/permission
from sectoral Ministry, resulting in change in the ownership pattern or transfer of stake by existing
investor to new foreign investor, will require Government approval
9. Civil Aviation
9.2 Airports
(a) Greenfield projects 100% Automatic
(b) Existing projects 100% Automatic
16.3 Single Brand Retail trading (SBRT) 100% Automatic up to 49%. Government
route beyond 49%
1)(cid:32) Foreign Investment in Single Brand product retail trading is aimed at attracting investments in
production and marketing, improving the availability of such goods for the consumer, encouraging
increased sourcing of goods from India, and enhancing competitiveness of Indian enterprises
through access to global designs, technologies and management practices.
2)(cid:32) Foreign investment in Single Brand product retail trading would be subject to the following
conditions:
a)(cid:32)Products to be sold should be of a 'Single Brand' only.
b)(cid:32)Products should be sold under the same brand internationally i.e. products should be sold under
the same brand in one or more countries other than India.
c)(cid:32)'Single Brand' product retail trading would cover only products which are branded during
manufacturing.
d)(cid:32) A non-resident entity or entities, whether owner of the brand or otherwise, shall be permitted
to undertake 'single brand' product retail trading in the country for the specific brand, directly
or through a legally tenable agreement with the brand owner for undertaking single brand
product retail trading. The onus for ensuring compliance with this condition will rest with the
Indian entity carrying out single brand product retail trading in India. The investing entity
shall provide evidence to this effect at the time of seeking approval, including a copy of the
licensing/franchise/sub-licence agreement, specifically indicating compliance with the above
condition. The requisite evidence should be filed with the RBI for the automatic route and
SIA/FIPB for cases involving approval.
e)(cid:32)In respect of proposals involving foreign investment beyond 51%, sourcing of 30% of the value
of goods purchased, will be done from India, preferably from MSMEs, village and cottage
industries, artisans and craftsmen, in all sectors. The quantum of domestic sourcing will be
self-certified by the company, to be subsequently checked, by statutory auditors, from the
duly certified accounts which the company will be required to maintain. This procurement
requirement would have to be met, in the first instance, as an average of five years’ total
value of the goods purchased, beginning 1st April of the year of the commencement of the10 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)]
business i.e. opening of the first store. Thereafter, it would have to be met on an annual basis.
For the purpose of ascertaining the sourcing requirement, the relevant entity would be the
company, incorporated in India, which is the recipient of foreign investment for the purpose
of carrying out single brand product retail trading.
f)(cid:32) Subject to the conditions mentioned in this Para, a single brand retail trading entity operating
through brick and mortar stores, is permitted to undertake retail trading through e-commerce.
3)(cid:32) Application seeking permission of the Government for foreign investment exceeding 49% in a
company which proposes to undertake single brand retail trading in India would be made to the
Secretariat for Industrial Assistance (SIA) in the Department of Industrial Policy & Promotion. The
applications would specifically indicate the product/product categories which are proposed to be
sold under a 'Single Brand'. Any addition to the product/product categories to be sold under 'Single
Brand' would require a fresh approval of the Government. In case of foreign investment up to 49 %,
the list of products/product categories proposed to be sold except food products would be provided
to the RBI.
4)(cid:32) Applications would be processed in the Department of Industrial Policy & Promotion, to determine
whether the proposed investment satisfies the notified guidelines, before being considered by the
FIPB for Government approval.
Note:
i.(cid:32) Conditions mentioned at Para (2) (b) & (2) (d) above will not be applicable for undertaking
Single Brand Retail Trading (SBRT) of Indian brands.
ii.(cid:32) An Indian manufacturer is permitted to sell its own branded products in any manner i.e.
wholesale, retail, including through e-commerce platforms.
iii.(cid:32) Indian manufacturer would be the investee company, which is the owner of the Indian brand
and which manufactures in India, in terms of value, at least 70% of its products in-house, and
sources, at most 30% from Indian manufacturers.
iv.(cid:32) Indian brands should be owned and controlled by resident Indian citizens and/or companies
which are owned and controlled by resident Indian citizens.
v.(cid:32) Sourcing norms will not be applicable up to three years from commencement of the business
i.e. opening of the first store for entities undertaking single brand retail trading of products
having 'state-of-art' and 'cutting-edge' technology and where local sourcing is not possible.
Thereafter, provisions of Para (2) (e) above will be applicable.
17. Pharmaceuticals
17.1 Greenfield 100% Automatic
17.2 Brownfield 100% Automatic up to 74%
Government route beyond 74%
17.3 Other Conditions
(i)(cid:32) ‘Non-compete’ clause would not be allowed in automatic or government approval route except
in special circumstances with the approval of the Foreign Investment Promotion Board (FIPB).
(ii)(cid:32) The prospective investor and the prospective investee are required to provide a certificate along
with the FIPB application as given at Para 17.4.
(iii)(cid:32)Government may incorporate appropriate conditions for foreign investment in brownfield
cases, at the time of granting approval.
(iv)(cid:32) foreign investment in brownfield pharmaceuticals, under both automatic and government
approval routes, is further subject to compliance of following conditions:
a)(cid:32)The production level of National List of Essential Medicines (NLEM) drugs and/or
consumables and their supply to the domestic market at the time of induction of foreign
investment, being maintained over the next five years at an absolute quantitative level. The
benchmark for this level would be decided with reference to the level of production of NLEM
drugs and/or consumables in the three financial years, immediately preceding the year of
induction of foreign investment. Of these, the highest level of production in any of these three
years would be taken as the level.
b)(cid:32)Research and Development (R&D) expenses being maintained in value terms for 5 years at
an absolute quantitative level at the time of induction of foreign investment. The benchmark
for this level would be decided with reference to the highest level of R&D expenses which
has been incurred in any of the three financial years immediately preceding the year of
induction of foreign investment.
c)(cid:32)The administrative Ministry will be provided complete information pertaining to the transfer
of technology, if any, along with induction of foreign investment into the investee company.¹Hkkx IIµ[k.M 3(i)º Hkkjr dk jkti=k % vlk/kj.k 11
d)(cid:32)The administrative Ministry (s) i.e. Ministry of Health and Family Welfare, Department of
Pharmaceuticals or any other regulatory Agency/Development as notified by Central
Governemnt from time to time, will monitor the compliance of conditionalities.
Note :
i. foreign investment up to 100% under the automatic route is permitted for manufacturing of medical
devices. The above mentioned conditions will, therefore, not be applicable to greenfield as well as
brownfield projects of this industry.
ii. Medical device means :-
a) Any instrument, apparatus, appliance, implant, material or other article, whether used alone or in
combination, including the software, intended by its manufacturer to be used specially for human
beings or animals for one or more of the specific purposes of :-
(aa) Diagnosis, prevention, monitoring, treatment or alleviation of any disease or disorder;
(ab) diagnosis, monitoring, treatment, alleviation of, or assistance for, any injury or handicap;
(ac) investigation, replacement or modification or support of the anatomy or of a physiological
process;
(ad) supporting or sustaining life;
(ae) disinfection of medical devices;
(af) control of conception;
and which does not achieve its primary intended action in or on the human body or animals by any
pharmacological or immunological or metabolic means, but which may be assisted in its intended
function by such means;
b) an accessory to such an instrument, apparatus, appliance, material or other article;
c) a device which is reagent, reagent product, calibrator, control material, kit, instrument,
apparatus, equipment or system whether used alone or in combination thereof intended to be used
for examination and providing information for medical or diagnostic purposes by means of in vitro
examination of specimens derived from the human body or animals.
iii. The definition of medical device at Note (ii) above would be subject to the amendment in Drugs and
Cosmetics Act, 1940, as amended from time to time.
17.4 Certificate to be Furnished by the Prospective Investor as well as the Prospective Recipient Entity
It is certified that the following is the complete list of all inter-se agreements, including the shareholders
agreement, entered into between foreign investor(s) and investee brownfield pharmaceutical entity
1. ………………
2. ……………….
3. ……………….
(copies of all agreements to be enclosed)
It is also certified that none of the inter-se agreements, including the shareholders agreement, entered
into between foreign investor(s) and investee brownfield pharmaceutical entity contain any non-compete
clause in any form whatsoever.
It is further certified that there are no other contracts/agreements between the foreign investor(s) and
investee brownfield pharma entity other than those listed above.
The foreign investor(s) and investee brownfield pharma entity undertake to submit to the FIPB any
inter-se agreements that may be entered into between them subsequent to the submission and
consideration of this application.
[No. 1/16/EM/2016]
ROHIT JAIN, Chief General Manager12 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)]
Foot Note:-
The Principal Regulations were published in the Official Gazette vide G.S.R. No.406 (E) dated May 8, 2000 in Part II,
Section 3, Sub-section (i) and subsequently amended as under:-
G.S.R.No. 158(E) dated 02.03.2001 G.S.R.No.591(E) dated 04.09.2013
G.S.R.No. 175(E) dated 13.03.2001 G.S.R.No.596(E) dated 06.09.2013
G.S.R.No. 182(E) dated 14.03.2001 G.S.R.No.597(E) dated 06.09.2013
G.S.R.No. 4(E) dated 02.01.2002 G.S.R.No.681(E) dated 11.10.2013
G.S.R.No. 574(E) dated 19.08.2002 G.S.R.No.682(E) dated 11.10.2013
G.S.R.No. 223(E) dated 18.03.2003 G.S.R. No.818(E) dated 31.12.2013
G.S.R.No. 225(E) dated 18.03.2003 G.S.R. No.805(E) dated 30.12.2013
G.S.R.No. 558(E) dated 22.07.2003 G.S.R.No.683(E) dated 11.10.2013
G.S.R.No. 835(E) dated 23.10.2003 G.S.R.No.189(E) dated 19.03.2014
G.S.R.No. 899(E) dated 22.11.2003 G.S.R.No.190(E) dated 19.03.2014
G.S.R.No. 12(E) dated 07.01.2004 G.S.R.No.270(E) dated 07.04.2014
G.S.R.No. 278(E) dated 23.04.2004 G.S.R.No. 361 (E) dated 27.05.2014
G.S.R.No. 454(E) dated 16.07.2004 G.S.R.No.370(E) dated 30.05.2014
G.S.R.No. 625(E) dated 21.09.2004 G.S.R.No.371(E) dated 30.05.2014
G.S.R.No. 799(E) dated 08.12.2004 G.S.R.No. 435 (E) dated 08.07.2014
G.S.R.No. 201(E) dated 01.04.2005 G.S.R.No. 400 (E) dated 12.06.2014
G.S.R.No. 202(E) dated 01.04.2005 G.S.R.No. 436 (E) dated 08.07.2014
G.S.R.No. 504(E) dated 25.07.2005 G.S.R.No. 487 (E) dated 11.07.2014
G.S.R.No. 505(E) dated 25.07.2005 G.S.R.No. 632 (E) dated 02.09.2014
G.S.R.No. 513(E) dated 29.07.2005 G.S.R.No. 798 (E) dated 13.11.2014
G.S.R.No. 738(E) dated 22.12.2005 G.S.R.No. 799 (E) dated 13.11.2014
G.S.R.No. 29(E) dated 19.01.2006 G.S.R.No. 800 (E) dated 13.11.2014
G.S.R.No. 413(E) dated 11.07.2006 G.S.R.No. 829 (E) dated 21.11.2014
G.S.R.No. 712(E) dated 14.11.2007 G.S.R.No. 906(E) dated 22.12.2014
G.S.R.No. 713(E) dated 14.11.2007 G.S.R.No. 914 (E) dated 24.12.2014
G.S.R.No. 737(E) dated 29.11.2007 G.S.R.No. 30 (E) dated 14.01.2015
G.S.R.No. 575(E) dated 05.08.2008 G.S.R.No. 183 (E) dated 12.03.2015
G.S.R.No. 896(E) dated 30.12.2008 G.S.R.No. 284 (E) dated 13.04.2015
G.S.R.No. 851(E) dated 01.12.2009 G.S.R.No. 484 (E) dated 11.06.2015
G.S.R.No. 341 (E) dated 21.04.2010 G.S.R.No. 745 (E) dated 30.09.2015
G.S.R.No. 821 (E) dated 10.11.2012 G.S.R.No. 759 (E) dated 06.10.2015
G.S.R.No. 606(E) dated 03.08.2012 G.S.R.No. 823 (E) dated 30.10.2015
G.S.R.No. 795(E) dated 30.10.2012 G.S.R.No. 858 (E) dated 16.11.2015
G.S.R.No. 796(E) dated 30.10.2012 G.S.R.No. 983 (E) dated 17.12.2015
G.S.R. No. 797(E) dated 30.10.2012 G.S.R.No. 165 (E) dated 15.02.2016
G.S.R.No. 945 (E) dated 31.12.2012 G.S.R.No. 166 (E) dated 15.02.2016
G.S.R. No.946(E) dated 31.12.2012 G.S.R.No. 369 (E) dated 30.03.2016
G.S.R. No.38(E) dated 22.01.2013 G.S.R.No. 465 (E) dated 28.04.2016
G.S.R.No.515(E) dated 30.07.2013 G.S.R.No. 537 (E) dated 20.05.2016
G.S.R.No.532(E) dated 05.08.2013 G.S.R.No. 879 (E) dated 09.09.2016
G.S.R. No.341(E) dated 28.05.2013 G.S.R.No. 1002 (E) dated 24.10.2016
G.S.R.No.344(E) dated 29.05.2013 G.S.R.No. 1003 (E) dated 24.10.2016
G.S.R. No.195(E) dated 01.04.2013 G.S.R.No. 1015 (E) dated 27.10.2016
G.S.R.No.393(E) dated 21.06.2013 G.S.R.No. 1042 (E) dated 04.11.2016
(cid:32)
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