PRESS RELEASE

January, 1999

Attention is invited to this Ministry's Press Note No. 18 (1998 series) regarding the procedure for approval of Foreign / Technical Collaborations with previous ventures / tie-ups in India. Under these guidelines, the automatic approval route for FDI and / or Technology Collaborations would not be available to those who have or had any previous joint venture or technology Transfer / Trade Mark agreement in the same or allied field in India.

In pursuance to the aforesaid press note, prospective investors / applicants are informed that following information should form part of proposals submitted to the Foreign Investment Promotion Board (FIPB ) / Project Approval Board (PAB) for consideration :-

1) Whether the applicant has had or has any previous Financial / Technical collaboration or Trade Mark agreement in India in the same or allied field for which approval has been sought ? ; and

2) If so , details thereof and the justification for proposing the new venture / Technical collaboration (including Trade Mark) .

Incomplete application shall not be entertained by FIPB / PAB.

Sd/

(ASHOK KUMAR)

Joint Secretary to the Government of India

New Delhi, dated the 14th January, 1999