FIPB to take up 14 FDI proposals on Jan 14

Inter-ministerial panel FIPB will take a call on 14 foreign investment proposals, including those of ICICI Prudential Life Insurance and drugmaker Cipla, next week.
The Foreign lnvestment Promotion Board (FIPB), headed by Economic Affairs Secretary Shaktikanta Das, is scheduled to meet on January 14.
The board, which recommends foreign investment proposals for government approval, will take up 14 in the meeting -- the first in 2016.
Other proposals pertain to ICICI Lombard General Insurance Co, Euronet Services India, Almondz lnsurance Brokers and Glenmark Pharmaceuticals.
At the last meeting on December 29, the panel had cleared four investment proposals worth Rs 1,810 crore.

It had also deferred decision on four investment proposals, including of Aviva Life Insurance, to increase foreign shareholding to 49 per cent from 26 per cent.
India allows FDI in most sectors through automatic route, but in certain segments considered sensitive for the economy and security, the proposals have to be first cleared by FIPB.
In 2014-15, FDI grew 27 per cent on-year to USD 30.93 billion as against USD 24.29 billion in 2013-14, according to data of the Department of Industrial Policy and Promotion (DIPP).