Relaxing the rules for foreign direct investment (FDI) in the country, the government has decided to loosen the norms for overseas investment in production and developments of seeds by freeing them.
This measure, which liberalizes the conditions for conversion of non-cash items into equity, is expected to significantly boost the prospects for foreign companies doing business in India. The agriculture sector is set to benefit from the relaxation of norms since they now will be permitted in the development and production of seeds and planting material without the stipulation of having to do so under any ''controlled conditions''. Manoj Gupta the CFO of Advanta in an interview on CNBC-TV18 spoke about the FDI policy laid out yesterday and what it means for the seed sector and his company. The entire FDI policy held us back, making capital raising difficult, he says. However, these changes in FDI will give his company the flexibility to raise capital.Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
