Govt gives qualified nod to FDI in LLPs | business | Hindustan Times
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Govt gives qualified nod to FDI in LLPs

business Updated: May 24, 2011 21:06 IST
HT Correspondent
HT Correspondent
Hindustan Times
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The government has finally decided to allow foreign direct investment (FDI) in limited liability partnership (LLP) firms. However, it would be brought in a calibrated manner. “The government has reviewed the extant policy on foreign direct investment and decided to permit FDI in LLP firms,” the ministry of commerce and industry said in a statement.

The move would attract greater overseas funds and latest technologies in the country.

Under the Limited Liability Partnership Act, 2008, LLP firm as new business structure was formed. Overseas investments in LLP firms would be allowed with certain conditions. It will be allowed in the sectors where 100% FDI is allowed through automatic route. LLPs with FDI will not be permitted to operate in activities in agricultural or plantation, print media or real estate business.