|
|
The government has given the permission for royalty and lumpsum fee for transfer of technology and use of brand name through the automatic route without any restrictions.
Till now, this was applicable only for foreign technology transfer involving payment of fees of $2 million and royalty of 5 percent on domestic sales and 8 percent on exports, after which the firm needs to request for permission from the government.
"With the government's further liberalisation, the move is expected to freely promote the transfer of state-of-art-technology into the country," said a government press release.
