Government clears 11 FDI proposals
DSIJ Intelligence / 27 Sep 2016
Foreign Investment Promotion Board (FIPB) has approved 11 proposals entailing foreign direct investment (FDI) inflow of over Rs 2300 crore. The investment board also cleared Sharekhan selling 100 per cent of its stake to BNP Paribas.
Foreign Investment Promotion Board (FIPB) has approved 11 proposals entailing foreign direct investment (FDI) inflow of over Rs 2300 crore. The investment board also cleared Sharekhan selling 100 per cent of its stake to BNP Paribas. Sharekhan’s proposal would attract foreign investment of Rs 2060 crore.
The FIPB also cleared the proposal of Perrigo India worth Rs 253 crore. Other proposals approved included Pepe Jeans and IBM. Of the 18 foreign investment proposals considered, including Idea Cellular Infrastructure Services and Flag Telecom, Morgan Stanley’s proposal of Rs 95 crore was approved through automatic route. However, FIPB rejected four proposals.
The government has taken important measures in the recent past to boost foreign direct investment into the country. On June 20, the cabinet allowed FDI regime with the objective of providing major impetus to employment generation in India. The measures undertaken have resulted in increased FDI inflows at USD 55.46 billion (Rs 3687 billion) in FY16, as against USD 24.7 billion (Rs 1643 billion) in FY15.
If you want to stay updated with the share market news today, keep a close watch on the indian stock market today with real time movements like sensex today live and overall stock market today trends. Investors tracking ipo allotment status, ipo news today, or the latest ipo india can also follow daily updates along with bse share price live data. Whether you are learning how to invest in stock market in india, preparing for a market crash today, or searching for the best stocks to buy in india, insights on top gainers today india, top losers today india, trending stocks india and long term stocks india help in making informed investment decisions.