FIPB to consider 17 FDI proposals on Feb 3

Tags: FDI, FIPB, Economy
The Finance Ministry will take up 17 foreign investment proposals, including that of INX Music and Soma Tollways, on February 3.

The Foreign Investment Promotion Board (FIPB), headed by Economic Affairs Secretary Arvind Mayaram, is scheduled to meet on February 3.

As per the agenda, FIPB will take up investment proposal of INX Music, a company which distributes music content for TV channels.

The company is seeking FIPB's permission to undertake additional activity of broadcasting of non-news and current affairs channels. The FIPB had taken up the proposal in its two earlier meetings, but deferred a decision on it.

Soma Tollways has sought the Board's nod for post facto approval for increase in foreign equity in an investing company.

FIPB will also take up Veriant Systems's proposal.

The company is seeking permission to undertake cash and carry wholesale trading and export trading in respect of only Enterprise Intelligence Systems (EIS) and Video Intelligence Systems (VIS) products related to telecom and defence, without any condition of seeking prior approval before making every sale.

Gastaad Hotels has approached FIPB for post facto approval for issue of partly paid up shares to the foreign investor.

Other proposals on the agenda include that of Yes Regulatory Healthcare Services India, Eurecat India Catalyst Services, L&T Infrastructure Development Projects and Welspun Renewables Energy.

India allows foreign direct investment in most of the sectors through automatic route, but permission of FIPB is required for FDI in certain segments considered sensitive for the economy.

FDI inflows during April-November of the current financial year declined 15% to $12.6 billion from $14.7 billion in the same period a year earlier.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Need to rein in profligate promoters in low margin airline business

    With the media and industry searchlight trained hard on SpiceJet, it is easy to forget that it may be, at worst, a symptom, not the real malaise itsel

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Urs Schöttli

Shifting sands in the Far East

As was to be expected, Japanese prime minister Shinzo Abe ...

Zehra Naqvi

When humanity died, bestiality prevailed

The terrorist attack that killed 132 children in Peshawar has ...

Bubbles Sabharwal

Why self-esteem must be your best friend forever

Two negatives do make a positive! Imagine no doubts, no ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture