FIPB to take up 11 investment proposals on November 17

NEW DELHI: Inter-ministerial body FIPB will take up 11 foreign investment proposals on Novermber 17, including those of Sanofi Synthelabo lndia Pvt Ltd and Gland Pharma Ltd.

The Foreign Investment Promotion Board (FIPB), headed by Economic Affairs Secretary Shaktikanta Das, is scheduled to meet on November 17. As many as 11 proposals are on the agenda, the finance ministry said in a meeting notice.

Other investment proposals on the table include those of Flag Telecom Singapore Pte Ltd, Standard Chartered (l) Modeling and Analytics Center Pvt Ltd, Boehringer lngelheim lndia Pvt Ltd, Menon Bearings Ltd, Bashundhara Paper Mills Pvt Ltd and AMP Solar lndia Pvt Ltd.

India allows FDI in most sectors through the automatic route, but in certain segments considered sensitive for the economy and security, the proposals have to be first cleared by FIPB.

The government has taken a slew of measures in the recent past to boost foreign direct investment into the country.

FDI in the country grew by 29 per cent to $40 billion in 2015-16 as against $30.94 billion in the previous financial year.