The ministry of commerce and industry has come out with amended foreign technology transfer norms. According to the new norms technology transfer involving payments above cut-off limits require prior
The ministry of commerce and industry has come out with amended foreign technology transfer norms. According to the new norms technology transfer involving payments above cut-off limits require prior permission of the Indian government.
Where there is no technology transfer involved, royalty up to 2 per cent for exports and 1 per cent for domestic sales is allowed, on use of trademarks and brand names of the foreign collaborator, under automatic route. There are separate norms for sectors like hospitality.
A suitable post-reporting system for such transactions will be notified by the government, separately.
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