Investment Board To Take Up 15 Proposals On September 26

Press Trust of India

18 Sep 2016, 02:59 PM IST

FDI inflows into the country rose to $55.46 billion in FY16, as against $36.04 billion in FY14.

New Delhi: The Foreign Investment Promotion Board (FIPB) will decide on 15 foreign investment proposals, including those by Idea Cellular Infrastructure Services and Sharekhan, on September 26.

The 240th meeting of the Foreign Investment Promotion Board (FIPB), to be chaired by Economic Affairs Secretary Shaktikanta Das, will have 15 items on the agenda.

These include investment applications of Limpkin Telecom, Perrigo API India, Flag Telecom Singapore, IBM India, BT Global Communication (Mauritius), Morgan Stanley India Primary Dealer, and BNP Paribas Asset Management India.

India allows FDI in most sectors through the automatic route, but in certain segments considered sensitive for the economy and security, the proposals have to be first cleared by the FIPB.

The government has taken slew of measures in the recent past to boost foreign direct investment into the country. On June 20, the government had "radically liberalised" the FDI regime with the objective of providing major impetus to employment generation in India.

This was the second big reform after some major changes announced in November 2015.

The government has said measures undertaken by it resulted in increased FDI inflows at $55.46 billion in 2015-16, as against $36.04 billion in 2013-14.