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Govt approves 15 FDI proposals

Monday, 30 Sep 2013

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The Foreign Investment Promotion Board (FIPB), has approved 15 proposals of foreign direct investment (FDI) amounting to Rs 2,000.49 crore.

Proposals which have been cleared include that of Jubilant Pharma, Singapore, worth Rs 1,145.10 crore; Lotus Surgical Specialities worth Rs 150 crore; Symbiotec Pharmalab at a foreign direct investment of Rs 306.19 crore; and the proposal of Advanced Enzyme Technologies worth Rs 200 crore.

In addition to this, the board has recommended two proposals viz, IDFC Trustee Company, as proposed Trustee for India Infrastructure Fund-II, Mumbai, and Mylan Inc USA, worth Rs 10,668 crore, for consideration of the Cabinet Committee on Economic Affairs.

Further, it has deferred decisions on 10 FDI proposals, including that of Hindustan Coca-Cola Holdings, HBO India, P5 Asia Holding Investments (Mauritius), Australia Asia Resources LLP (USA), and Dhanlaxmi Infrastructure.

Meanwhile, the following proposals - Quest Global Defence Engineering Services; Boeing Cyprus Holdings; and Cyprus and Eurocopter India, have been advised to access automatic route.