FIPB to consider 12 foreign investment proposals on Aug 2

Govt allows FDI in most sectors through automatic route but investment in certain sectors are cleared by FIPB

Inter-ministerial body FIPB will consider 12 foreign investment proposals, including that of Financial Times, Reckitt Benckiser India, HSBC Securities and Capital Markets, on August 2.

The Foreign Investment Promotion Board (FIPB), headed by Economic Affairs Secretary Shaktikanta Das will also look into other proposals like Oxigen Services, Baxter India and Sanofi-Synthelabo.

There are 12 investment proposals on the agenda, the Finance Ministry said.

Exfo Asia Pacific, IMCD India Pvt Ltd, Fincare Business Services, Laurus Labs Pvt Ltd are among the foreign investment proposals listed before the FIPB.

India allows FDI in most of the sectors through automatic route but the investment in certain sectors are cleared by the FIPB. FDI proposals of Rs 5,000 crore and beyond require approval of the Cabinet Committee on Economic Affairs.

In 2015-16 fiscal, the FDI inflows in the country grew by 29% to $40 billion as against $30.93 billion in 2014-15.

FDI for 2015-16 was the highest since 2000-01. The services segment attracted the highest investments of $6.88 billion followed by computer hardware and software ($5.90 billion), trading business ($3.84 billion) and automobile industry ($2.52 billion).