05 January 2015 | News | By BioSpectrum Bureau
â€œ100 percent FDI to increase investmentâ€?
The Government had last month allowed 100 percent FDI under automatic route in medical devices sector
American Chamber of Commerce (AMCHAM) in India has said that 100 percent foreign direct investment (FDI) in the medical devices sector will attract US firms to invest and manufacture in India.
The Government had last month allowed 100 percent FDI under automatic route both in greenfield and brownfield projects in the medical devices sector.
"The move by the central government to amend 100 percent FDI in medical devices will encourage FDI inflows into the sector and will also attract the US companies to invest and manufacture in India," said Mr Ajay Singha, AMCHAM India executive director in a statement.