Press Note No. 1 (2014) Series

Press Note No. 1 (2014) Series

1. Press Note No. 1 (2014 Series) dated January 08, 2014 has been issued by the Department of Industrial Policy & Promotion, Government of India, Ministry of Commerce & Industry. The web-link of the said Press Note is as below for ready reference:
2. Highlights of said Press Note are as below:

Press Note No. 1 (2014 Series) dated January 08, 2014 issued by the Department of Industrial Policy & Promotion, Government of India, Ministry of Commerce & Industry regarding ‘Review of the existing policy on Foreign Direct Investment in the Pharmaceutical Sector’

Paragraph 6.2.18 of ‘Circular 1 of 2013-Consolidated FDI Policy’, effective from April 05, 2013, relating to the Foreign Direct Investment Policy in the pharmaceuticals sector is as under:

6.2.18 Pharmaceuticals
6.2.18.1 Greenfield 100% Automatic
6.2.18.2 Brownfield 100% Government
Note: Government may incorporate appropriate conditions for FDI in brownfield cases, at the time of granting approval.

 

The Government of India has reviewed the position in this regard and decided that the existing policy would continue with the condition that ‘non-compete’ clause would not be allowed except in special circumstances with the approval of the Foreign Investment Promotion Board. This decision shall take immediate effect.

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