A New Overseas Indians Investments Policy

Government of India has released a new Investment Policy as on Thursday, November 30, 2006 Apparent in its site http://pib.nic.in

[Via - Press Information Bureau (Ministry of Overseas Indian Affairs, Government of India)]

Government has put in place a liberal and transparent policy for investment from overseas Indians. Most of the sectors are open to Foreign Direct Investment (FDI) under the automatic route.

Non-Resident Indians (NRIs) can invest upto 100% under the automatic route in the Housing and Real Estate Development for the following activities.

• Developments of services plots and constructions of built up residential premises;
• Investment in real estate governing construction of residential and commercial premises including business centers and offices;
• Development of townships;
• City and regional level urban infrastructure facilities, including roads and bridges;
• Investment in participatory ventures in the above activities;
• Investment in housing finance institutions.

NRIs can invest upto 100% in Indian companies engaged in Air Taxi operation. (For foreign companies Foreign Direct Investment (FDI) is permitted only up to 49%)

More Information Here- http://pib.nic.in/release/release.asp?relid=22589