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Many foreign companies use a combination of exporting, licensing and direct investment in India. India permits 100% foreign equity in most industries. Units setting up in special economic zones (SEZs), operating in electronic hardware or software technology parks or operating as 100% export-oriented units also may be fully foreign-owned. Nevertheless, the government has set sector-specific caps on foreign equity in certain industries, such as basic and cellular telecommunications services, banking, civil aviation and retail trading. Foreign direct investment is made through two routes: automatic approval and government approval: Automatic Route: Foreign investors or an Indian company do not need. | UK Real Estate Investment Trusts a discussion paper March 2005 HM TREASURY g Revenue HM TREASURY gRevenue UK Real Estate Investment Trusts a discussion paper March .
