FinMin to take up 35 FDI proposals this month
08/09/2014 06:59
The Foreign Investment Promotion Board (FIPB) will take call on 35 foreign direct investment proposals, including that of Bharti Shipyard and Verizon Communications, later this month, reported PTI. The FIPB headed by Finance Secretary Arvind Mayaram will hold its 210th meeting on September 16 to consider the proposals, the ministry said. FIPB had earlier deferred decision on the proposal of Bharti Shipyard, an Indian company in shipbuilding sector which has existing FDI through FIIs and NRIs proposes to undertake defence activities. Verizon Communications India is seeking approval to increase foreign equity participation by its foreign parent from 74 per cent to 100 per cent. The FIPB had deferred decision on the proposal in its meeting held on August 1. Among other proposals that are in the agenda include that of Sistema Shyam Teleservices, IndusInd Bank, HBM Private Equity India, Hatsoff Helicopter Training, Instant Global Money Transfer and Tara India Fund IV Trust. . The government is taking several steps to boost FDI in the country. It has de-licensed several defence products for private players, besides hiking the FDI cap to 49 per cent in the sensitive sector.
08/09/2014 06:59
The Foreign Investment Promotion Board (FIPB) will take call on 35 foreign direct investment proposals, including that of Bharti Shipyard and Verizon Communications, later this month, reported PTI. The FIPB headed by Finance Secretary Arvind Mayaram will hold its 210th meeting on September 16 to consider the proposals, the ministry said. FIPB had earlier deferred decision on the proposal of Bharti Shipyard, an Indian company in shipbuilding sector which has existing FDI through FIIs and NRIs proposes to undertake defence activities. Verizon Communications India is seeking approval to increase foreign equity participation by its foreign parent from 74 per cent to 100 per cent. The FIPB had deferred decision on the proposal in its meeting held on August 1. Among other proposals that are in the agenda include that of Sistema Shyam Teleservices, IndusInd Bank, HBM Private Equity India, Hatsoff Helicopter Training, Instant Global Money Transfer and Tara India Fund IV Trust. . The government is taking several steps to boost FDI in the country. It has de-licensed several defence products for private players, besides hiking the FDI cap to 49 per cent in the sensitive sector.
