FIPB to consider 12 foreign investment proposals on June 10

NEW DELHI: Inter-ministerial body FIPB will consider 12 foreign investment proposals, including that of IBM India and Bayer Vapi, next week.

The Foreign Investment Promotion Board (FIPB), headed by Economic Affairs Secretary Shaktikanta Das, is scheduled to meet on June 10.

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

Flag Telecom Singapore Pte, Oxigen Services (India), Corona Remedies Pvt, You Broadbank India and Star Den Media Services are among the foreign investment proposals listed before the FIPB.

Besides, investment proposals of Tikona Digital Networks and Ordain Health Care Global are also on the agenda.

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.

In 2015-16 fiscal, the FDI inflows in the country grew by 29 per cent to USD 40 billion as against USD 30.93 billion in 2014-15.

FDI for 2015-16 was the highest since 2000-01. The services segment attracted the highest investments of USD 6.88 billion followed by computer hardware and software (USD 5.90 billion), trading business (USD 3.84 billion) and automobile industry (USD 2.52 billion).