Royalty bigger than dividends for MNCs

Royalty payments for use of their technology and brands are now the largest source of earnings for multinational companies (MNCs) operating in India. In FY13, for instance, 71 MNCs (whose financial numbers are available till 2012-13) earned a combined Rs 4,838 crore from their Indian subsidiaries in the form of royalty and technical fees. In comparison, their total dividend income was Rs 4,529 crore.

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