FIPB to take up 47 foreign investment proposals

FIPB

New Delhi:(IANS) The Foreign Investment Promotion Board (FIPB) will on Monday take up 47 proposals of foreign investment, including a host of them from pharmaceutical majors like Glaxo SmithKline, Novartis and Mylan Laboratories, an official said.

Other investment proposals on the FIPB’s agenda include those of Volkswagen Finance, ADC India Communications, Diabu Diamond Tools India, DEN Networks, Reliance Globalcom, Sistema Shyam Teleservices, Indian Rotocraft and Sikorsky Aircraft Corporation, said an official statement here.

There are applications also of the Bandhan Financial Services, which has been granted  a universal banking licence by the Reserve Bank of India, and the Catholic Syrian Bank that has received market regulator Sebi’s approval to raise up to Rs.400 crore through an initial public offer (IPO).

The FIPB can recommend foreign investment proposals of up to Rs.3,000 crore to the finance minister for approval.

Foreign direct investment (FDI) is permitted in most sectors in India through the automatic route, but proposals in some segments considered sensitive have to be first cleared by the FIPB.

FDI in India in 2014-15 was over $30 billion, a rise of 40 percent over the previous fiscal.

Leave a Reply

Your email address will not be published. Required fields are marked *


About us

At www.maeeshat.in we intend to introduce and promote the businesses in the Minorities especially Muslim world who distinguish themselves with respect to Halaal and Haraam. From its very beginning this journal/website has convinced Muslim industrialists and businessmen to strengthen the Indian economy and make their relationships more flourishing with other corporate.


CONTACT US

CALL US ANYTIME


Disclaimer

Maeeshat Media Pvt Ltd and https://maeeshat.in is not responsible for views and claims expressed by contributors and for reports sourced by other media networks and news agencies. They do not necessarily represent or reflect the editorial policy of the publication.


Newsletter


    Categories