FDI policy on industrial parks to cover biotech, pharma investments
01 Oct 2011
The government has expanded the policy of 100 per cent foreign direct investment (FDI) in industrial parks to specifically include research and development in biotechnology, pharmaceutical and life sciences as well.
Under the revised guidelines, FDI would be allowed up to 100 per cent, under the automatic route, in existing and new industrial parks, which include investments in pharmaceutical and biotechnology sectors, the government said in the fourth edition of the comprehensive FDI policy document released yesterday.
This has been done considering the urgent need to augment research and development infrastructure in these areas as also expand production facilities, the government said.
Relaxation for educational institutions, old-age homes
The government has exempted construction and development activities in the education sector and in old-age homes from the general conditionalities for FDI in the construction/development sector.
The consolidated FDI policy specifically states that construction and development activities in the education sector and in respect of old-age homes will be exempt from the conditionalities imposed on FDI in the construction development sector in general, ie, minimum area and built-up area requirement, minimum capitalisation requirement, and lock-in period.
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