(1) The approval of the department should be obtained for foreign investment or technology transfer. The application should be submitted in the format.

(3) If the application is submitted according to sub-section (2), in the case of industries with a fixed income of up to fifty million rupees, the department shall approve it within thirty days from the date of submission of the application according to the decision of the board in the case of industries with a fixed income of more than fifty million rupees. . The department shall inform the applicant of the decision regarding such approval.

(4) Notwithstanding anything written in sub-sections (1) and (2), approval shall not be given for foreign investment in the industries mentioned in the schedule.

p>But approval can be given to transfer technology to such industries.