FIPB to take up 17 investment proposals on December 28

NEW DELHI: Inter-ministerial body FIPB will consider 17 foreign investment proposals on December 28, including that of Sanofi Synthelabo India Pvt Ltd, Star Den Media Services and Gland Pharma Ltd.

The Foreign Investment Promotion Board (FIPB), headed by Economic Affairs Secretary Shaktikanta Das, is scheduled to meet on December 28. As many as 17 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, Idea Cellular Infrastructure Services, You Broadband India and AMP Solar India 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.

The inflows in the first half of the current financial year were USD 21.62 billion.

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