Indian subsidiaries of foreign companies can claim SFIS benefit

Advertisement CA Sumit Grover Recently, in case of YUM RESTAURANTS (I) PVT.LTD AND Anr. v. Union of India & Ors, Hon’ble Delhi High Court pronounced that there is no provision in the Foreign Trade Policy which debars an Indian subsidiary of a foreign holding company from availing the benefit of Serve From India Scheme (SFIS). The Court took the view that the ‘Served from India’ brand can’t be construed to include only brands of Indian Companies, which are recognized as Indian. Accordingly, it set aside the stand taken by DGFT of disallowing the granting of SFI...