FIPB to consider 17 FDI proposals on Dec 28
The Dollar Business Bureau
Inter-ministerial body Foreign Investment Promotion Board (FIPB) will consider 17 proposals of foreign investment on December 28 that includes proposals of Sanofi Synthelabo India Pvt Ltd, Gland Pharma Ltd and Star Den Media Services.
Headed by the Economic Affairs Secretary Shaktikanta Das, FIPB is scheduled to have a meeting on December 28. There are around 17 proposals on the agenda, the Finance Ministry said in its notice.
The other proposals of foreign investment on the agenda are Flag Telecom Singapore Pte Ltd, You Broadband India, Idea Cellular Infrastructure Services and AMP Solar India Pvt Ltd.
India permits Foreign Direct Investment (FDI) in most of the sectors via the automatic route. However, in some specific segments, which are considered sensitive for the country and security, the investment proposals have to be first approved by FIPB.
In the recent past, the government has taken several measures to boost FDI into the country.
FDI inflows stood at $21.62 billion in the first half of this financial year.
In 2015-16, FDI in India grew by 29% to $40 billion compared to $30.94 billion in the previous financial year.