Looking to boost its ‘Make in India’ initiative, Prime Minister Narendra Modi-led NDA government is planning to allow Foreign Direct investment (FDI) in the medical devices, reported ET Now.
According to ET Now, the Cabinet is expected to take up the proposal, which is in the final stages, in the coming weeks.
The government is likely to allow 100 per cent FDI in medical devices through automatic route in brown and as well as green field. “The FDI will be on the automatic approval route, both for brownfield as well as for greenfield. In pharmaceuticals, while 100% FDI through the automatic route is allowed in greenfield (setting up new plants), in brownfield (existing plant), you still need an approval from the government,” reported ET Now.