Foreign investment in any form is prohibited in a company or a partnership firm or a proprietary concern or any entity, whether incorporated or not (such as Trusts) which is engaged or proposes to engage in the following activities:

(i) Business of chit fund, or

(ii) Nidhi Company , or

(iii) Agricultural or plantation activities or

(iv) Real estate business, or construction of farm houses

(v) Trading in Transferable Development Rights (TDRs).

It is clarified that Real Estate Business does not include development of townships, construction of residential/commercial premises, roads or bridges. It is further clarified that partnership firms/proprietorship concerns having investments as per FEMA regulations are not allowed to engage in Print Media sector.

In addition to the above, investment in the form of FDI is also prohibited in certain sectors such as:

(i) Retail Trading

(ii) Atomic Energy

(iii) Lottery Business

(iv) Gambling and Betting

(v) Agriculture (excluding Floriculture, Horticulture, Development of seeds, Animal Husbandry, Pisiculture and Cultivation of vegetables, mushrooms etc. under controlled conditions and services related to agro and allied sectors) and Plantations (Other than Tea plantations)

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