Bengaluru, December 4, 2015: To give impetus to the medical devices sector and for easing the norms the Government vide Press Note 2 (2015 series) dated 21.01.2015 allowed 100% FDI under the automatic route for brownfield projects of medical devices industry.
The measure undertaken would help in easing the process of foreign investment in this industry which, in turn, could result in increased manufacturing of medical devices in India.
Government has put in place an investor-friendly policy on FDI, under which FDI, up to 100%, is permitted, under the automatic route, in most sectors/activities. FDI policy is reviewed on an ongoing basis andsignificant changes are made in the FDI policy regime from time to time, to ensure that India remains increasingly attractive and Investor-friendly.
This information was given by the Minister of State(Independent Charge) in the Ministry of Commerce & Industry Smt. Nirmala Sitharaman in a written reply in Rajya Sabha today.
Corporate Comm India(CCI Newswire)
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