Notification No. FEMA.320/2014-RB dated 5th September, 2014 Foreign Direct Investment (FDI) in India – Review of FDI policy – Sector Specific Conditions – Railway Infrastructure
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 Railway Infrastructure so as to bring it line with the Press Note issued by DIPP.
The amendments are as under: –
1. T he existing Annexure A has been substituted as under: –
“Annexure A”
Sectors Prohibited for FDI
FDI is prohibited in:
(a) Lottery Business including Government/ private lottery,
online lotteries, etc.
(b) Gambling and Betting including casinos etc.
(c) Chit funds
(d) Nidhi company
(e) Trading in Transferable Development Rights (TDRs)
(f) Real Estate Business or Construction of Farm Houses
(g) Manufacturing of Cigars, cheroots, cigarillos and cigarettes,
of tobacco or of tobacco substitutes
(h) Activities/sectors not open to private sector investment
e.g.
(I) Atomic energy and
(II) Railway operations (other than permitted activities
mentioned in entry 18 of Annex B).
Note: Foreign technology collaboration in any form including licensing for franchise, trademark, brand name, management contract is also prohibited for Lottery Business and Gambling and Betting activities.”
2. Annexure B has been amended as under: –
a. I n the existing entry 12.1, for the clauses (ii) and (iii), the following shall be substituted, namely:
“(ii) Infrastructure” refers to facilities required for functioning of units located in the Industrial Park and includes roads (including approach roads), railway line/sidings including electrified railway lines and connectivities to the main railway line, water supply and sewerage, common effluent treatment facility, telecom network, generation and distribution of power, air conditioning.
(iii) “Common Facilities” refer to the facilities available for all the units located in the industrial park, and include facilities of power, roads (including approach roads), railway line/sidings including electrified railway lines and connectivities to the main railway line, water supply and sewerage, common effluent treatment, common testing, telecom services, air conditioning, common facility buildings, industrial canteens, convention/ conference halls, parking, travel desks, security service, first aid center, ambulance and other safety services, training facilities and such other facilities meant for common use of the units located in the Industrial Park.”
b. T he following new Clause 18 has been added and certain other clauses have been re-numbered: –
