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April 2008

Press Note No. 3 (2008), dated 12-3-2008. — Guidelines for Foreign Direct Investment (FDI) in Credit Industrial Parks.

By Pinky Shah, Sonalee Godbole, Gaurang Gandhi
Chartered Accountants
Reading Time 1 mins
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Part C : RBI/FEMA

Given below are the highlights of 6 Press Notes issued by the
Ministry of Commerce & Industry.


 


18 Press Note No. 3 (2008), dated 12-3-2008.
— Guidelines for Foreign Direct Investment (FDI) in Credit Industrial Parks.

This press note clarifies that FDI up to 100% under the
automatic route will be allowed in established Industrial Parks as well as for
setting new Industrial Parks and the conditions mentioned in Press Note 2 (2005)
would not be applicable, provided :

1. The Industrial Park comprises of 10 units and no single
unit occupies more than 50% of the allocable area.

2. The minimum area allocated for industrial activity is
not less than 66% of the total allocable area of the Industrial Park.


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