Investment Board To Consider Proposals Of IBM India, 11 Others On June 10


New Delhi: The Foreign Investment Promotion Board (FIPB) will next week consider 12 foreign investment proposals, including those by IBM India and Bayer Vapi.

Inter-ministerial body FIPB, headed by Economic Affairs Secretary Shaktikanta Das, is scheduled to meet on June 10.

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

Flag Telecom Singapore Pte, Oxigen Services (India), Corona Remedies Pvt, You Broadbank India and Star Den Media Services are among companies whose foreign investment proposals are listed before FIPB.

Besides, investment proposals of Tikona Digital Networks and Ordain Health Care Global are also on the agenda.

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

In fiscal year 2015-16, the FDI inflows in the country grew 29 per cent 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).