India on Wednesday set out conditions for automatic approval of 100 per cent foreign investments in industrial parks. Such parks would have to house a minimum of 10 industrial units and at least 66 per cent of their developed area would have to be allocated for industrial activity, a trade ministry note said. No single unit could occupy more than half of the allocable area, the note added. If these conditions were met, investors would not need to conform to guidelines on minimum investment and minimum area developed, which are applicable for housing, commercial and regional infrastructure projects, it said.
Courtesy: HT 13.03.08
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