FEMA QUERY

my co. (indian) wants to become sole selling agent for another foreing co. for this purpose it has entered into agreement  acc. to which my co. is required to purchase goods for a certain minimum amount. and then my co. has to sell it in india by becoming an exclusive agent for the foreign co. the contract is for five year.

i want to ask whether any permission from RBI is required or not or it attracts any other provision of company law or FEMA. Pls reply early