Foreign investment in India in any form is prohibited in businesses engaged or proposes to engage in the following business:
i) A business of chit fund; or,
ii) Nidhi Company; or,
iii) Agricultural or plantation activities (excluding floriculture, horticulture, development of seeds, animal husbandry, cultivation of vegetables, mushrooms, etc., under controlled conditions, services related to an agro & allied sector and tea plantations); or,
iv) Real Estate business, or construction of farm houses (Does not include the development of townships, construction of residential/commercial premises, roads or bridges); or,
Trading in Transferable Development Rights (TDRs).