PROHIBITION ON FOREIGN INVESTMENT IN LOTTERY BUSINESS,
GAMBLING AND BETTING
PRESS
NOTE
As
per existing policy, lottery business, gambling and betting are
not open to foreign investment, which applies to FDI, FII portfolio
investment, NRI/OCB portfolio investment, NRI/OCB investment on
non-repatriation basis and investment by foreign venture capital
investors.
2.
Government has been receiving queries from certain State Governments,
prospective investors, technology providers, franchise / trademark
/ brand name licensors, management consultants, etc., as to whether
FDI is permissible in Government / private lotteries, online lotteries,
casinos, etc., and also whether foreign technology collaboration,
including licensing of franchise / trademark / brand name, management
contract, etc., are permitted in the lottery business, gambling
and betting sector.
3.
It is clarified that both foreign investment and foreign technology
collaboration in any form are completely prohibited in the lottery
business, gambling and betting sector.
Department
of Industrial Policy & Promotion, Ministry of
Commerce & Industry, New Delhi, dated 5th
July, 2002
