FDI proposals worth Rs.263 crore cleared

Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on March 13, 2013, the Central Government has approved Seventeen (17) proposals of Foreign Direct Investment amounting to Rs. 262.5594 crore ...

Even though the Foreign Investment Promotion Board finally cleared the proposal of Tata-AirAsia joint venture recently, the civil aviation ministry had raised some procedural issues in the FIPB meeting that took place on March 6.While the ministry supported the proposal ‘in principle’, civil aviation secretary K N Srivastava pointed out that the applicant should have first set up the company, obtained the licence from the ministry and then only divested to the foreign collaborator.

What were the issues raised by the ministry with the Foreign Investment Promotion Board before clearance of the Tata-Air Asia proposal? In principle, we have no issues. Only concern is that the joint venture complies with the requirements of the foreign direct investment policy. Which areas need clarity? The commerce ministry should change the note to bring more clarity on FDI. I don't see big hurdles, whether they (AirAsia, Tata and Arun Bhatia) form the JV before or after. The aviation ...

NEW DELHI: Foreign direct investment in the pharmaceutical sector faces fresh headwinds with the (DIPP) seeking a review of the policy barely months after it was cleared at the intervention of the prime minister, two government officials privy to ...

Sri Lanka has received US$ 218 million of foreign direct investments in the first quarter of 2013 and is targeting US$ two billion for the full year, Investment Promotion Minister Lakshman Abeywardena said. The money has come from 37 projects ...

As economists warn that unless exports and foreign direct investment (FDI) flows improved, the country ran the risk of getting into a debt trap and sustainable economic growth would not be possible, Sri Lanka continues to have a dismal run in ...

The Cabinet Committee on Economic Affairs (CCEA), on Thursday, approved the Rs.10,500-crore foreign direct investment (FDI) proposal of Swedish furniture major IKEA in the single-brand retail sector. In its application, IKEA had proposed to invest ...

The Finance Ministry on Wednesday will consider 26 proposals of foreign direct investment (FDI), including that of Punj Lloyd and Pipavav Defence and Offshore Engineering Company. The proposals are listed on the agenda of the 189th meeting of Foreign ...

Reacting to the finance ministry’s explanation on the language of the note on foreign direct investment in aviation, Civil Aviation Minister Ajit Singh said on Thursday: “I also know English.”This was in response to the assertion of some officials of the finance ministry and the Department of Industrial Policy & Promotion that a strategically placed comma in DIPP’s press note on FDI in civil aviation meant foreign airlines were allowed to hold up to 49 per cent stake ...