FIPB Current Affairs

Enter Your Email Address To Subscribe Current Affairs Daily Digest, Daily Quiz and other updates on Current Affairs:

FIPB clears 6 FDI proposals worth Rs 1,187 crore

The Inter-ministerial body Foreign Investment Promotion Board (FIPB) approved six investment proposals envisaging foreign investments of Rs 1,186.5 crore.  Decision in this regard was taken by FIPB meeting headed by Economic Affairs Secretary Shaktikanta Das.

It has approved the proposals of Sanofi Synthelabo India, Star Den Media Services, Idea Cellular Infrastructure Services, Boehringer Ingelheim India Pvt. Ltd, Menarini India Private Limited and Recipharm Participation B.V. Netherlands.

Background

India allows FDI in most sectors through the automatic route, but in certain segments considered sensitive for the economy and security, then those proposals first have to be cleared by FIPB. The Union Government has taken a slew of measures in the recent past to boost foreign direct investment into the country. The FDI in the country has grown to $40 billion in the financial year 2015-16 as against $30.94 billion in the previous FY 2014-15.

About Foreign Investment Promotion Board (FIPB)

  • The FIPB is inter-ministerial body that offers a single window clearance for applications on Foreign Direct Investment (FDI) that are under the approval route.
  • The finance secretary is the chairman of the FIPB. It is housed in the Department of Economic Affairs, Union Ministry of Finance. Presently, FDI proposals up to 3,000 crore rupees are cleared by the FIPB.
  • However, those proposals involving FDI of more than 3,000 crore rupees are given final clearance by the Cabinet Committee on Economic Affairs (CCEA) headed by Prime Minister.

Tags:

FIPB clears 6 FDI proposals worth Rs 1,200 crore

The Foreign Investment Promotion Board (FIPB) has approved six Foreign Direct Investment (FDI) proposals worth Rs 1,200 crore. Decision in this regard was taken by FIPB meeting headed by Economic Affairs Secretary Shaktikanta Das.

It has approved the proposals of, Star Den Media Services, Sanofi Synthelabo India, Idea Cellular Infrastructure Services, Menarini India, Boehringer Ingelheim India and Recipharm Participation.

Background

India allows FDI in most sectors through the automatic route, but in certain segments considered sensitive for the economy and security, then those proposals first have to be cleared by FIPB. The Union Government has taken a slew of measures in the recent past to boost foreign direct investment into the country. The FDI in the country has grown to $40 billion in the financial year 2015-16 as against $30.94 billion in the previous FY 2014-15.

About Foreign Investment Promotion Board (FIPB)

The FIPB is inter-ministerial body that offers a single window clearance for applications on Foreign Direct Investment (FDI) that are under the approval route. The finance secretary is the chairman of the FIPB. It is housed in the Department of Economic Affairs, Union Ministry of Finance. Presently, FDI proposals up to 3,000 crore rupees are cleared by the FIPB. However, those proposals involving FDI of more than 3,000 crore rupees are given final clearance by the Cabinet Committee on Economic Affairs (CCEA).

Tags:

Union Government approves 21 FDI proposals worth Rs 281 crore

Union Government has approved twenty one proposals of Foreign Direct Investment (DI) amounting to over 280 crore rupees.

The approved FDI proposals were based on recommendations of the Foreign Investment Promotion Board (FIPB) taken in its meeting held on 30 April, 2015.

Some of approved FDI proposals are

  • La Renon Healthcare’s proposal to invest Rs 100 crore in a brownfield project.
  • Blue Dart Express’s proposal to acquire shares in Blue Dart Aviation Ltd and hike shareholding from 49 per cent to 74 per cent. It will infuse investment between 52.8 crore to Rs 69 crore rupees.
  • Quickjet Cargo Airlines proposal to increase foreign shareholding in the company to 74 per cent from 62.34 per cent. The deal will entail FDI worth 14.40 crore rupees.
  • Forever Living Imports (India) Pvt Ltd’s 18.30-crore rupees proposal to undertake single brand retailing of ‘Forever’ brand products in India.

However, FIPB has deferred 12 proposals including that of Mumbai-based Kotak Bank for increasing the aggregate foreign investment limit to 55 per cent in the bank.

FDI proposals approval

Presently, FDI proposals up to 3,000 crore rupees are cleared by the Foreign Investment Promotion Board (FIPB) under the normal approval route. However, those proposals involving FDI of more than 3,000 crore rupees are given final clearance by the Cabinet Committee on Economic Affairs (CCEA).

Tags:

Advertisement

12