Thirteen foreign direct investment (FDI) proposals, worth Rs 1,258.53 crore, were cleared recently by the Union government. The FDI proposals include request to invest Rs 755 crore by Shantha Biotech acquired by French company Sanofi Aventis.
Tag: Foreign Direct Investment
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Bonatrans to invest Rs 200 cr on wheel factory
With Rs 200 crore foreign direct invesment (FDI) a rail wheel manufacturing factory will be built in Maharashtra's Aurangabad by Bonatrans, a Czech wheel and axle manufacturing company. The Indian Railways, which has already have such a wheel and axle factory in Bangalore, has succeeded to attract the FDI from Bonatrans.
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Govt plans easing FDI rules for construction sector
To relax conditions on foreign direct investment (FDI) in the construction development sector of the country, the Union Department of Industrial Policy and promotion (DIPP) has moved a Cabinet note. The move is to bring foreign money into Indian real estate sector that is facing fiscal problems.
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Govt okays 17 FDI proposals of Rs 992.61 cr
The Union government has approved Rs 992.61 crore valued 17 proposals of Foreign Direct Investment (FDI). The approvals have been made based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on last July 29, 2013, the government reports said September 3.
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Govt okays 18 single brand retail FDI proposals till May
Between April 2010 and May 2013, the Union government approved a total of 18 foreign direct investment proposals worth $173 million in the single brand retail sector, the Union Commerce and Industry Minister Anand Sharma told the Lok Sabha on August 20. Of these proposals, the government approved five proposals in the sector worth $137.68 million during the first two months of the current fiscal, the Minister added.
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CCEA clears new definition of control under FDI policy
The Cabinet Committee on Economic Affairs has approved the proposal of the Department of Industrial Policy & Promotion for amendment to the existing definition of "control" under the FDI policy. The revised definition will be as follows: Until now, the definition of "control", in the extant FDI policy is as under: "A company is considered as "controlled" by resident Indian citizens if the resident India
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Cabinet clears proposal to widen scope of “control” in FDI policy
The union cabinet approved the alignment of the definition of "control" under the foreign direct investment (FDI) policy with the definitions under the guidelines of Securities and Exchange Board of India and Companies Bill 2012. Accordingly, under the FDI policy, 'control' would be defined as "the right to appoint a majority of the directors or to control the management or policy dec
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Govt relaxes policy on FDI in multi-branded retail trade
The Union government on August 1 approved the amendment or relaxation of the foreign direct investment (FDI) policy on multi-brand retail trading (MBRT), by easing main contentious riders on such money. These three riders, added as conditions to last yearÂ’s decision to open FDI in this segment, were on a mandatory 30 per cent sourcing from small domestic industries, 50 per cent of the investment to be in back-end infrastructure and outlets to be opened only in cities with population of more than
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Control and ownership norms in FDI
In order to bring more clarity on the issue, the Corporate Affairs Ministry is expected to submit its comments on control definition in the context of foreign direct investment (FDI) deals.
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FDI relaxation in multi-branded retail
The Union government approved the relaxation of the foreign direct investment (FDI) policy on multi-brand retail trading (MBRT), by easing main contentious riders on such money.