FIPB to consider 12 FDI proposals on August 2

FIPB to consider 12 FDI proposals on August 2

FIPB, an inter-ministirial agency under the finance ministry, is set consider 12 foreign investment proposals. These projects includes that of Financial Times, Reckitt Benckiser India, HSBC Securities and Capital Markets, on August 2.

The Foreign Investment Promotion Board (FIPB), headed by Economic Affairs Secretary Shaktikanta Das will also look into other proposals like Oxigen Services, Baxter India and Sanofi—Synthelabo.

There are 12 investment proposals on the agenda, the Finance Ministry said.

Exfo Asia Pacific, IMCD India Pvt Ltd, Fincare Business Services, Laurus Labs Pvt Ltd are among the foreign investment proposals listed before the FIPB.

India allows FDI in most of the sectors through automatic route but the investment in certain sectors are cleared by the FIPB. FDI proposals of Rs 5,000 crore and beyond require approval of the Cabinet Committee on Economic Affairs.

The government has relaxed FDI Policy in sectors like defence, pharmaceuticals, aviation, food retailing and broadcast. During the two months, defence received no FDI, while pharmaceuticals attracted USD 452.86 million foreign inflows. The other sectors include air transport (USD 5.65 million), information and broadcasting (USD 39.2 million) and retail trading (USD 7.94 million).