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January 2015

A. P. (DIR Series) Circular No. 46 dated 8th December, 2014

By Gaurang Gandhi Chartered Accountant
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Notification No. FEMA. 312/2014-RB dated 2nd July, 2014 Foreign Direct Investment (FDI) in India – Review of FDI policy – Sector Specific conditions – Defence

This Notification & circular have made the following two changes in to Notification No. FEMA. 20/2000-RB dated 3rd May 2000 pertaining to FDI in Defence Sector so as to bring it line with the Press Notes issued by DIPP.

The amendments are as under: –
1. I n Regulation 14(3)(iv)(D) the words “Defence Sector” have been deleted.
2. Paragraph 6 of Annexure B pertaining to “Defence Sector” has been substituted as under: –



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A. P. (DIR Series) Circular No. 45 dated 8th December, 2014

A. P. (DIR Series) Circular No. 47 dated 8th December, 2014