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We are dealing in stainless steel products. We want to supply our products in India by our proposed 100% subsidiary. The Stainless steel will be imported from our 100% held Indian subsidiary and then sell to various wholesaler in India. Please let us know whether we require approval from FIPB for holding 100% shares in an Indian Company. Or it is under automatic route. Thank you.
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There are certain restriction and sectoral cap for FIPB route for trading activities. You may refer to FEM (Transfer of Issue of Security by a person Resident Outside India) Regulation, 2000.
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