Liberalization of Foreign Technology Agreement Policy
There is good news for the Indian technological industry. The Government of India yesterday (17th Dec), issued a Press Release stating that it has reviewed its foreign technology agreement policy to no longer require government approval, with immediate effect. The prior policy freely allowed payments and remittances up to a lumpsum fee of $2million and royalty payments of 5% on domestic sales and 8% on exports. Payments above this required regulatory approval. The new policy removes any such restrictions on
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