Foreign Investment Promotion Board (FIPB) has approved four FDI proposals entailing investment of Rs 2,060 crore.
The Foreign Investment Promotion Board (FIPB) today approved three FDI proposals entailing overseas investment of about Rs 35 lakh, but deferred a decision on seven proposals, including that of BNP Paribas Asset Management India pvt ltd and Sharekhan ltd.
The 'Make in India' initiative was launched on September 25, 2014 with an aim to make the country a global manufacturing hub.
Arvind Sanger of Geosphere Capital expects FM to make commitments towards handling structural challenges with regards to power shortages and banking.
With the government on a fast-track to lure foreign investments, FIPB will consider as many as 48 FDI proposals, including that of the HDFC Bank and about a dozen from the pharma sector, at its meeting on October 21.
The Finance Ministry will consider tomorrow four FDI proposals in single brand retailing, including that of Decathlon and Fossil Inc, worth Rs 750 crore.
The Government today announced clearing of 31 FDI proposals worth Rs 3,844.7 crore, including that of Multiples Pvt Equity Fund and global tour operator Cox & Kings.
The Indian government has given a green signal to the FDI proposals, which are worth Rs 1,358 crore. Government has also sanctioned FDI proposals of Reliance Broadcast and Shriram Capital, which are worth Rs 45.5 crore and Rs 1,180 crore, respectively.