Liberalization Of Foreign Technology Agreement Policy

[9] spicyip.com/2009/12/liberalization-of-foreign-technology.html In order to promote the technological performance and competitiveness of the Indian industry, the acquisition of foreign technologies is encouraged by foreign technology cooperation agreements. The initiation of knowledge through such cooperations allowed either by automatic route or with the prior authorization of the government. [4] Proposals for the transfer of foreign technologies/cooperations that are not automatic are considered by the PAB in the Department of Industrial Policy and Promotion. In such cases, an application was made in FC-IL form to the Industrial Aid Secretary. Payments relating to the recruitment of foreign technicians, the assistant of Indian technicians on board and the foreign control of raw materials, products and technology themselves are subject to separate RBI procedures and rules regarding bank statement transactions and are not subject to foreign technology cooperation authorization. [6] Here is the press note: siadipp.nic.in/policy/changes/pn8_2009.pdf internationalization of technology and production is becoming a frequent phenomenon to achieve and maintain global competitiveness. Technology is an important part of the development mix and the technological gap is an important aspect of the international economic gap. Technology transfer is the term used to describe the processes by which technological knowledge moves within or between organizations. [1] International technology transfer refers to how this is done between countries. [2] Technology transfer is an important means of accessing new technologies for developing countries. For example, the acquisition of foreign technologies by emerging economies in East Asia, combined with national technology learning – efforts to accumulate the ability to change technology – have been key factors in their rapid technological and economic development. The majority of technology transfers between developed and developing countries are carried out by commercial technology transfers by the private sector. These include transfers of foreign direct investment, foreign licences, turnkey projects, technical advice, capital acquisition, international subcontracts and joint ventures.

[3] The policy to date has allowed payments and transfers of up to $2 million and royalties of 5% on domestic sales and 8% on exports. Payments made above this request required the authorization of the administration. The new directive removes these restrictions on royalty payments, flat fees for technology transfer and payments for the use of trademarks and automatically implements them, i.e. without the agreement of the Indian government. [9] The easing of decades-old policies is part of the liberalization and deregulation of India`s foreign investment regime, which works well for India, given that India itself attracted more than $25 billion in foreign investment in 2008, when the world was in recession. Unrestricted cooperation agreements in the field of technology facilitate access to the latest technologies from around the world and are therefore very useful for the development of the Indian technology industry. Government of India`s Technology Transfer Policy: [3] business.mapsofindia.com/fdi-india/investing-country/foreign-technology-agreements.html The easing of this decades-old policy is part of the liberalization and deregulation of India`s foreign investment regime, which works well for India, considering that India itself, in 2008, when the world was in recession, attracted more than $25 billion in foreign investment.