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Prohibition of restrictive conditions regarding audit firms Para 5.2 (h) of FDI Policy is replaced with the following: Wherever the foreign investor wishes to specify a particular auditor/audit firm having international network for the Indian investee company, then audit of such investee companies should be carried out as joint audit wherein one of the auditors should not be part of the same network.
Consolidated FDI Policy Circular of 2017 Effective from August 28, 2017- It is the intent and objective of the Government of India to attract and promote foreign direct investment in order to supplement domestic capital, technology and skills, for accelerated economic growth. Foreign Direct Investment, as distinguished from portfolio investment, has the connotation of establishing a ‘lasting interest’ in an enterprise that is resident in an economy other than that of the investor.
Infrastructure companies in Securities Markets, namely, stock exchanges, commodity exchanges, corporations, Regulations depositories and clearing in compliance with SEBI
Comments/ suggestions on ‘Consolidated Foreign Direct Investment Policy Circular of 2016’ are invited from stakeholders by 27/01/2017 for consideration.
1) (a) Scheduled Air Transport Service/Domestic Scheduled Passenger Airline -100% for NRIs under Automatic Route. (2) Non-Scheduled Air Transport Service- 100% (3) Helicopter services/ seaplane services requiring DGCA approval – 100%
Foreign investment in ‘Other Financial Services’ activities shall be subject to conditionalities, including minimum capitalization norms, as specified by the concerned Regulator/Government Agency.
An entity engaged in single brand retail trading operating through brick and mortar stores, is permitted to undertake retail trading through e-commerce.
On a review, in consultation with the Government of India, it has been decided to allow foreign investment up to 100% under the automatic route in ‘Other Financial Services’.
The Government of India has reviewed the extant FDI policy on various sectors and made following amendments in the Consolidated FDI Policy Circular of 2016 issued on June 07, 2016 (FDI Policy).
Press Information Officer, Press Information Bureau- for giving wide publicity to the above circular. 2. NIC, DIPP for uploading the Circular on DIPP’s website. 3. Department of Economic Affairs, Ministry of Finance, New Delhi.
