RBI allows end use for Import of Services

The Reserve Bank of India (RBI) has decided to include import of services, technical know-how
and payment of license fees as part of import of capital goods by the companies for the use in the manufacturing and infrastructure sectors as permissible end uses of ECBs. Currently, eligible entities can raise External Commercial Borrowings (ECBs) for investment such as import of capital goods, new projects, modernization /expansion of existing production units in industrial sector, infrastructure sector and entities in the service sector