FIPB to consider 14 foreign investment proposals on June 10

NEW DELHI: As many as 14 foreign investment proposals including that of IBM India, Janalakshmi Financial Services and Macmillan Publishers International will come up for consideration before the inter-ministerial body FIPB later this week.

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

There are 14 investment proposals on the agenda, the Finance Ministry said.

Bayer Vapi, Flag Telecom Singapore Pte, Oxigen Services (India), Corona Remedies Pvt, You Broadband 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 investment in certain sectors is cleared by FIPB. FDI proposals of Rs 5,000 crore and beyond require approval of the Cabinet Committee on Economic Affairs.

In the 2015-16 fiscal ended March 31, the FDI inflows in the country grew by 29 per cent to $40 billion as against $30.93 billion in 2014-15.

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