FIPB to take up 31 FDI proposals on Tuesday

NEW DELHI: Inter-ministerial body FIPB on September 29 will take up 31 foreign investment proposals including that of Cipla, Aditya Birla Nuvo and HDFC Capital Advisors.

The Foreign Investment Promotion Board (FIPB), headed by Economic Affairs Secretary Shaktikanta Das, will meet on Tuesday to take up 31 FDI proposals listed on the agenda, the Finance Ministry said.

Among others, proposals of Sun Pharma Advanced Research Company, Strides Arcolab, Multi Screen Media, Reliance Globalcom, Aegon Religare Life lnsurance and Apollo Hospitals Enterprise are on the agenda.

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

DIPP Secretary Amitabh Kant had said that FDI inflow in August jumped by 74 per cent compared with same month year ago.

"Good news! FDI equity inflow in d month of August 2015 has registered an increase of 74% compared 2 same, month last yr," he said in a tweet recently.

The foreign direct investment number for the month of July has not been made public. In June, India had attracted USD 2.05 billion as against USD 1.92 billion in same month last fiscal.