RBI has vide its circular no. 85 dated 29th February 2012 allowed External commercial Borrowings for infrastructure facilities within the National Manufacturing Investment zones on an approval basis. Therefore the developers of these Zones would be able to avail of ECBs albeit on approval basis. Copy of the RBI circular can be found here
No NMIZ has been established as yet so this is a concept the government is working on to spur manufacturing activities in the country and thereby generate employement. The allowing of ECBs is therefore a step in that direction.
No NMIZ has been established as yet so this is a concept the government is working on to spur manufacturing activities in the country and thereby generate employement. The allowing of ECBs is therefore a step in that direction.
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