Economy

FIPB to take up 32 FDI proposals on April 9

PTI New Delhi | Updated on January 24, 2018 Published on March 29, 2015

An inter-ministerial panel will take up as many as 32 foreign direct investment (FDI) proposals, including that of Mylan Laboratories and S Kumars Nationwide, on April 9.

According to the Finance Ministry, the Foreign Direct Investment Promotion Board (FIPB), headed by Finance Secretary Rajiv Mehrishi, is scheduled to meet on April 9 take up the proposals.

Other proposals on the agenda include that of BASF Chemical India, Nickeldeon Asia Holdings, Sai Life Sciences Ltd, Maham Nayyar and Sahar Nayyar of Pakistan, Warden Petrochem and Damiani India.

FIPB is a single window clearance system for proposals on FDI.

India allows FDI in most of the sectors through automatic route, but in certain segments, which are considered sensitive for the economy and security, the proposals have to be first cleared by FIPB.

During April-January this fiscal, FDI has increased by 36 per cent year-on-year to $25.52 billion.

The Government has recently taken a slew of steps to liberalise policies for foreign investors.

FDI cap in defence and insurance has been increased, while the railways sector has been opened for foreign investment.

Foreign investments are considered crucial for India, which needs around $1 trillion over five years (2012-17) to overhaul its infrastructure sector such as ports, airports and highways to boost growth.

Sectors, which attract maximum FDI include services, telecom, metallurgical industries, power, computer hardware & software and construction.

Published on March 29, 2015
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