RBI permits foreign offices in SEZ

By RBI has decided to grant | 19 Jan 2004

1
Mumbai: The Reserve Bank of India has permitted foreign companies to establish branch offices or units in Special Economic Zones (SEZs) to undertake manufacturing and service activities subject to fulfilling certain conditions.

RBI has decided to grant a general permission if such units function in those sectors where 100 per cent FDI is permitted, provided they comply with part XI of Companies Act and function on a "stand-alone" basis.

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