| Sector or subsector |
Limitations on market access |
Limitations on national treatment |
Additional commitments |
| I. HORIZONTAL
COMMITMENTS |
| ALL SECTORS INCLUDED IN THIS SCHEDULE |
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3) In case of collaboration with
public sector enterprises or government undertakings as joint venture
partners, preference in access will be given to foreign service
suppliers/entities which offer the best terms for transfer of
technology |
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4) Unbound except for measures
affecting the entry and temporary stay of natural persons who fall in
any of the following categories: |
4) Unbound except for measures
referred to under Market Access |
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a) Business Visitors |
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Persons who visit India for the
purposes specified in (i) and (ii) below and who will not receive
remuneration from within India: |
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i) for business negotiations, or
ii) for preparatory work for establishing a commercial presence in
India |
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Entry for persons in this category
shall be for a period of not more than 90 days |
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b) Intra-corporate transferees
At the level of Managers, Executives and Specialists who have been in
the employment of a juridical person of another Member for a period
not less than one year prior to the date of application for entry into
India and are being transferred to a branch or a representative office
or a juridical person owned or controlled by the aforesaid juridical
person |
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Managers are:
Persons who direct a branch office or one or more departments as
their head, or supervise or control the work of other supervisory,
professional or managerial personnel and have the authority to appoint
or remove the personnel and powers to exercise discretionary authority
over day-to-day operations |
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Executives are:
Persons who are in senior positions within a juridical person
including a branch who primarily direct the management, have wide
decision-making powers and are either members of the board of
directors or receive directions from the board or the general body of
shareholders |
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Specialists are:
Persons who possess high qualifications and knowledge at an
advanced level relevant to the organisation's activities or of the
organisation's research, equipment, techniques or management and may
include persons who are members of accredited professional bodies |
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Entry for persons in the above
categories shall be for a maximum period of 5 years |
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c) Professionals
Natural persons to be engaged by a juridical person in India as part
of a services contract for rendering professional services for which
he/she possesses the necessary academic credentials and professional
qualifications with three years experience in the field of physical
sciences, engineering or other natural sciences
Entry and stay in this category shall be for a maximum period of one
year |
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| II. SECTOR-SPECIFIC
COMMITMENTS |
1. BUSINESS SERVICES
A. Professional Services
e) Engineering Services
(CPC 8672) |
1) Unbound
2) Unbound
3) Only through incorporation with a foreign equity ceiling of 51 per
cent
4) Unbound except as indicated in the horizontal section |
1) Unbound
2) Unbound
3) None
4) Unbound except as indicated in the horizontal section |
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B. Computer and Related Services
a) Consultancy services related to the installation of computer
hardware
(CPC 841)
b) Software implementation services
(CPC 842)
c) Data processing services
(CPC 843) |
1) Unbound
2) Unbound
3) Only through incorporation with a foreign equity ceiling of 51 per
cent
4) Unbound except as indicated in the horizontal section |
1) Unbound
2) Unbound
3) None
4) Unbound except as indicated in the horizontal section |
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d) Data base services
(CPC 844) |
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e) Maintenance and repair services of
office machinery and equipment including computers
(CPC 845) |
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C. Research and Development Services
a) R&D services on the following natural sciences only:
- Heat, light, electro-magnetism, astronomy, but excluding atomic
energy and related matters
(CPC 85101) |
1) Unbound
2) Unbound*
3) Only through incorporation with a foreign equity ceiling of 51 per
cent
4) Unbound except as indicated in the horizontal section |
1) Unbound
2) Unbound*
3) None
4) Unbound except as indicated in the horizontal section |
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- Engineering and technology,
including applied science and technology for casting, metal,
machinery, electricity, communications, vessels, aircrafts, civil
engineering, construction, information, etc.
(CPC 85103) |
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F. Other Business Services
e) Technical testing and analysis services
(CPC 8676) |
1) Unbound
2) Unbound
3) Only through incorporation with a foreign equity ceiling of 51 per
cent
4) Unbound except as indicated in the horizontal section |
1) Unbound
2) Unbound
3) None
4) Unbound except as indicated in the horizontal section |
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2. COMMUNICATION SERVICES
C. Telecommunication Services
Data and message transmission services, the following:
h) Electronic mail
(CPC 7523**) |
1) None
2) Unbound
3) Only through incorporation with a foreign equity ceiling of 51 per
cent
4) Unbound except as indicated in the horizontal section |
1) None
2) Unbound
3) None
4) Unbound except as indicated in the horizontal section |
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i) Voice mail
(CPC 7523**) |
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j) On-line information and data base
retrieval
(CPC 7523**) |
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l) Enhanced/value added facsimile
services, including store and forward, store and retrieve
(CPC 7523**) |
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n) On-line information and/or data
processing
(CPC 843**) |
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D. Audiovisual Services
a) Motion picture or video tape distribution services
(CPC 96113) |
1) Unbound
2) Unbound*
3) i) Only through representative offices which will be allowed to
function as branches of companies incorporated outside India
ii) Import of titles restricted to 100 per year
4) Unbound except as indicated in the horizontal section |
1) Unbound
2) Unbound*
3) Subject to the prescribed authority having certified that the
motion picture has:
a) won an award in any of the international film festivals notified by
the Ministry of Information & Broadcasting, Government of India;
or
b) participated in any of the official sections of the notified
international film festivals; or
c) received good reviews in prestigious film journals notified by the
Ministry of Information & Broadcasting, Government of India.
4) Unbound except as indicated in the horizontal section |
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| 3. CONSTRUCTION AND RELATED
ENGINEERING SERVICES |
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B. Construction work for civil
engineering
Roads & Bridges only:
Construction of highways, streets, railways, runways, bridges,
tunnels, subways, waterways, harbours, dams, pipelines, communication
lines, power lines and construction work of constructions for mining
and manufacturing not elsewhere classified e.g. power plants, iron
foundries, blast furnaces and coke ovens. It excludes construction
work of warehouses and industrial buildings, residential and
non-residential buildings.
(CPC Ex. 513) |
1) Unbound*
2) Unbound*
3) Only through incorporation with a foreign equity ceiling of 51 per
cent
4) Unbound except as indicated in the horizontal section |
1) Unbound*
2) Unbound*
3) None
4) Unbound except as indicated in the horizontal section |
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| 7. FINANCIAL SERVICES |
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A. Insurance and Insurance- Related
Services
Non-Life
(Insurance of freight)
Ex. 5 a) i) B) |
1) Unbound except in the case of
insurance of freight, where there is no requirement that goods in
transit to and from India should be insured with Indian insurance
companies only. Insurance is taken by the buyer or seller in
accordance with the terms of the contract. This position will be
maintained. Once under a contract the Indian importer or exporter
agrees to assume the responsibility for insurance such as in the case
of f.o.b. contracts for imports into India or c.i.f. contracts for
exports from India, insurance has to be taken only with an Indian
insurance company. |
1) Unbound |
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2) Unbound
3) Unbound
4) Unbound except as indicated in the horizontal section |
2) Unbound
3) Unbound
4) Unbound except as indicated in the horizontal section |
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Reinsurance and Retrocession
5 a) ii) |
1) Reinsurance can be taken with
foreign reinsurers to the extent of the residual uncovered risk after
obligatory or statutory placements domestically with Indian insurance
companies. At present this amounts to 10 per cent of the premium of
the market overall being reinsured abroad. This will be maintained. |
1) Unbound |
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2) Reinsurance can be taken with
foreign reinsurers to the extent mentioned above
3) Unbound
4) Unbound except as indicated in the horizontal section |
2) Unbound
3) Unbound
4) Unbound except as indicated in the horizontal section |
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Insurance intermediation, limited to
reinsurance
5 a) iii) |
1) Reinsurance of domestic risks can
be placed with foreign reinsurers through overseas brokers, to the
extent mentioned under reinsurance and retrocession
2) Same as above |
1) Unbound
2) Unbound |
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3) i) Overseas brokers are allowed to
have resident representatives and representative offices who can
procure reinsurance business from Indian insurance companies to the
extent mentioned above. They can also place reinsurance business from
abroad with Indian insurance companies. |
3) Unbound |
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ii) Except for the business indicated
above, the resident representatives and representative offices cannot
undertake any other activity in India. |
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iii) All the expenses of the resident
representatives and representative offices have to be met by
remittances from abroad and no income can be received in India from
Indian residents. |
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4) Unbound except as indicated in the
horizontal section |
4) Unbound except as indicated in the
horizontal section |
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B. Banking
1.i) Acceptance of deposits and other repayable funds from the public
5 a) v) |
1) Unbound
2) Unbound |
1) Unbound
2) Unbound |
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ii) Lending of all types, including
consumer credit, mortgage, credit and financing of commercial
transactions but excluding factoring
5 a) vi) |
3) i) Only through branch operations
of a foreign bank licensed and supervised as a bank in its home
country.
ii) Not more than five licences a year both for new entrants and
existing banks. |
3) i) Foreign banks are required to
constitute Local Advisory Boards consisting inter-alia of
professionals and persons having expertise in areas such as small
scale industry and exports. The appointment of Chairman and members of
the Board requires Reserve Bank of India approval; |
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iii) All payment and money
transmission services including credit, charges and debit cards,
travellers cheques and bankers drafts
5 a) viii) |
iii) Investments in other financial
services companies by branches of foreign banks licensed to do banking
business in India individually not to exceed
10 per cent of owned funds or
30 per cent of the invested company's capital. |
ii) Foreign banks are required to
publish consolidated financial statements of the Indian branches as at
31st March every year. |
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iv) Guarantees and commitments
5 a) ix)
v) Trading for own account of:
a) money market instruments
b) foreign exchange
c) transferable securities
5 a) x)
vi) Portfolio management, custodial, depository and trust services
5 a) xiii)
vii) Clearing services for other banks for cheques, drafts and other
instruments
5 a) xiv) |
iv) Licences for new foreign banks
may be denied when the maximum share of assets both on and off balance
sheet of foreign banks to total assets both on and off balance sheet
of the banking system exceeds 15 per cent.
4) Unbound except as indicated in the horizontal section |
4) Unbound except as indicated in the
horizontal section |
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2.i) Participation in issues of all
kinds of securities, including underwriting and placement as agent
(whether publicly or privately) and provision of services related to
such issues
5 a) xi)
ii) Financial consultancy services i.e. financial advisory services
provided by financial advisors, etc. to customers on financial
matters, investment and portfolio research and advice, advice on
acquisitions and on corporate restructuring and strategy
5 a) vii) |
1) Unbound
2) Unbound
3) i) Foreign bank branches licensed to do banking business in India.
ii) Through incorporation with foreign equity not exceeding 51 per
cent by financial services companies
(including banks).
4) Unbound except as indicated in the horizontal section |
1) Unbound
2) Unbound
3) None
4) Unbound except as indicated in the horizontal section |
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3. Factoring
Ex. 5 a) vi) |
1) Unbound
2) Unbound |
1) Unbound
2) Unbound |
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3) Through incorporation with foreign
equity not exceeding 51 per cent by financial services companies
(including banks)
4) Unbound except as indicated in the horizontal section |
3) None
4) Unbound except as indicated in the horizontal section |
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4. Financial Leasing
5 a) vii) |
1) Unbound
2) Unbound
3) i) Through incorporation with foreign equity not exceeding 51 per
cent by financial services companies including banks. |
1) Unbound
2) Unbound
3) None |
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ii) Funding has to be entirely out of
equity. |
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4) Unbound except as indicated in the
horizontal section |
4) Unbound except as indicated in the
horizontal section |
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5. Venture Capital
Ex. 5 a) vi) |
1) Unbound
2) Unbound |
1) Unbound
2) Unbound |
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3) i) Through incorporation with
foreign equity not exceeding 51 per cent, by financial services
companies including banks. |
3) None |
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ii) Funding has to be entirely out of
equity. |
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4) Unbound except as indicated in the
horizontal section |
4) Unbound except as indicated in the
horizontal section |
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| 8. HEALTH RELATED AND SOCIAL SERVICES |
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A. Hospital Services
(CPC 9311) |
1) Unbound*
2) Unbound
3) Only through incorporation with a foreign equity ceiling of 51 per
cent
4) Unbound except as indicated in the horizontal section |
1) Unbound*
2) Unbound
3) None
4) Unbound except as indicated in the horizontal section |
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9. TOURISM AND TRAVEL RELATED
SERVICES
a) Hotels and other lodging services
(CPC Ex.641) |
1) Unbound*
2) Unbound
3) Only through incorporation with a foreign equity ceiling of 51 per
cent
4) Unbound except as indicated in the horizontal section |
1) Unbound*
2) Unbound
3) None
4) Unbound except as indicated in the horizontal section |
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b) Travel Agency and Tour Operator
Services
(CPC 747) |
1) Unbound
2) Unbound
3) Only through incorporation with a foreign equity ceiling of 51 per
cent
4) Unbound except as indicated in the horizontal section |
1) Unbound
2) Unbound
3) None
4) Unbound except as indicated in the horizontal section |
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Trade
