Tuesday, 11 April 2017

FIPB to consider 8 FDI proposals in next meet: Reports

Inter-ministerial body FIPB has said that it will consider 8 foreign investment proposals on April 17, including that of Vodafone Mobile Services Ltd, Panacea Publishing Pvt Ltd, and bioMerieux India Pvt Ltd. As, the Foreign Investment Promotion Board (FIPB), headed by Economic Affairs Secretary Shaktikanta Das, is scheduled to meet on April 17. As many as 8 proposals are on the agenda. According to the Finance Ministry, other investment proposals on the table include those of Bluetown India Pvt Ltd, Ghel Rendev India Pvt Ltd and Baxter Healthcare (Asia) Pte Ltd., Singapore. 

India allows FDI in most sectors through the automatic route, but in certain segments considered sensitive for the economy and security, the proposals have to be first cleared by FIPB. The government has taken a slew of measures in the recent past to boost foreign direct investment into the country. FDI in the country grew by 29 per cent to USD 40 billion in 2015-16 as against USD 30.94 billion in the previous financial year.

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