Definition for control and sector specific conditions under FDI
It has been decided to revise the definition of the term ‘control’ as
under;
'Control' shall include the right to appoint a majority of the directors or
to control the management or policy decisions including by virtue of their
shareholding or management rights or shareholders agreements or voting
agreements.
4. Government of Himachal Pradesh and Karnataka have given consent to
implement the FDI policy on Multi Brand Retail Trading in Himachal Pradesh and
Karnataka respectively. As such, the list of States/Union Territories which have
conveyed their concurrence stands modified. Further, the extant policy on FDI
caps and routes for various sectors has since been reviewed. Accordingly, in
order to bring uniformity in the sectoral classification position for FDI as
notified under the Consolidated FDI Policy Circular with the FEMA Regulations,
Annex B of Schedule 1 to Notification No. FEMA. 20/2000-RB dated 3rd May 2000,
has been suitably revised and the updated list is given at the Annex.
A.P. (DIR Series) Circular No. 44
dated September 13, 2013
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