FIPB clears FDI proposals of Lupin, Alkem Lab

The government today cleared 14 foreign investment proposals, including that of Lupin Ltd and Alkem Laboratories Ltd.

The Foreign Investment Promotion Board (FIPB), chaired by Economic Affairs Secretary Shaktikanta Das, in its meeting considered 14 FDI proposals for approval.

Sources said the proposal of Alkem Laboratories was approved under the automatic route.

Besides, proposals of Hanon System of South Korea, BF Elbit Advanced Systems and Eucare Pharmaceuticals were also approved by the board.

However, the board rejected the proposal of Reliance Globalcom Ltd, sources said.