The Reserve Bank has today placed the draft Master Circular on Foreign Investments in India on its website for public comments. The feedback may be sent to the Chief General Manager-in-Charge, Foreign Exchange Department, Foreign Investment Division, Reserve Bank of India, 11th Floor, Shahid Bhagat Singh Road, Mumbai – 400 001 on or before June 20,2008. The feedback can also be sent by fax to 022-22610623/30 or can be e-mailed.

The Master Circular has been updated taking into account all the Notifications and Circulars issued till date. Foreign investment in India is governed by sub-section (3) of section 6 of the Foreign Exchange Management Act, 1999 read with Notification No. FEMA 20/2000-RB dated May 3, 2000, as amended from time to time. This Master Circular also covers (i) Acquisition of immovable property;(ii) Establishment of Branch/Liaison Office in India; and (iii) Investment in capital of partnership firms or proprietary concern.