Estaiblishment of Project office in India
The Reserve Bank of India has granted general permission to foreign companies to establish Project Offices in India, Provided they have secured a contract from an Indian company to execute a project in India and
(i) The project is funded directly by inward remittance from abroad or
(ii) The project is funded by a bilateral or multilateral International Financing Agency or
(iii) The project has been cleared by an appropriate authority or
(iv) A company or entity in India awarding the contract has been granted Term Loan by a Public Financial Institution or a bank in India for the project.
However, If the above criteria are not met or if the parent entity is established in Pakistan, Bangladesh, Sri Lanka, Afghanistan, Iran , China, Hong Kong or Macau, Such applications have to be forwarded to the Foreign Exchange Department, Reserve Bank of India, Central Office, Mumbai for approval.
Contact Person : Mr. Prakash Gupta
Telephone Numbers : +91-11-23382207/ 23388753
Mobile Number : +91-9811031841