(a) whether the Government has considered any measures for the promotion of co-working spaces in the country;
(b) if so, whether the Government has received any proposals for FDI in setting up of co-working spaces in the country and if so, the details thereof; and
(c) whether Para 5.2.10.2 of the FDI Policy excludes the leasing of property for creation of co-working spaces from amounting to real estate business and if so, the details thereof?
???????? ??? ?????? ???????? ??? ???????????? (???? ??.??. ?????)
THE MINISTER OF STATE IN THE MINISTRY OF COMMERCE & INDUSTRY
(SHRI C.R. CHAUDHARY)
(a): The Startup India initiative seeks to ensure professional management of Government sponsored/funded incubators, including setting up of incubators in public private partnerships. The incubators have provision for co-working spaces.
(b): There are no specific provisions in the Foreign Direct Investment (FDI) Policy as regards setting up of co-working spaces and thus no such proposal has been received.
(c): As per extant FDI policy on Construction Development Sector (Para 5.2.10 of Consolidated FDI Policy Circular of 2017), earning of rent/ income on lease of the property, not amounting to transfer, does not amount to real estate business.
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