date:Oct 23, 2012
all industry about these provisions, thereby diluting the fundamental of the clause.
Praveen Khandelwal, secretary-general, CAIT, said, It has been stated in the notification that foreign investors would have to procure at least 30 per cent of their material for India's small industries, but this requirement would have to be met in the first instance as an average of five years with effect from April 1 of the year the first tranche of FDI is received.
From the sixth year onwards, the requireme