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March 2015

A. P. (DIR Series) Circular No. 70 dated February 2, 2015

By Gaurang Gandhi Chartered Accountant

Reading Time 1 mins

Notification No.FEMA.334/2015-RB dated January 9, 2015, Foreign Direct Investment in Pharmaceuticals sector – Clarification

This circular states that in terms of Press Note No.2 (2015 Series) dated January 6, 2015 a special carve out has been made for medical devices. As a result: –

a. 100% FDI is permitted in the manufacture of medical devices.
b. Conditions applicable to both green field as well as brown field projects in the Pharmaceuticals Sector will not be applicable to FDI in manufacture of medical devices.

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