New Delhi: With an aim to attract larger FDI inflows into the country, government has decided to liberalise foreign investment policy. Agencies
The government will take up 46 foreign investment (FDI) proposals including that of Dhanalakshmi Bank and Honda Motors India by next week.
According to sources, the Foreign Investment Promotion Board (FIPB) meeting to discuss the issue will take place on April 20. It will be chaired by Department of Economic Affairs Secretary R Gopalan, the Finance Ministry said.
Of the 46 investment proposals, 25 are new while the rest are those in which decisions were deferred in previous meetings of the FIPB.
The 165th FIPB meeting is the first one after the government announced major changes in FDI norms on March 31.
The board is mandated to consider and recommend proposals relating to FDI under the government route.
Besides the proposals by Dhanalakshmi and Honda Motors on the agenda of the board, the other new applicants include G4S Security Services (India) and Park Control and communications Ltd, Bangalore.
In the last meeting, the board had approved 14 FDI proposals, including that of Mauritius based Ghir Investments, totaling Rs 1,289.85 crore. The meeting was held on March 11.
As per the meeting agenda, the panel is also likely to take a decision on pending cases including those of Punj Lloyd, Lokmat Media Ltd, Arshiya International and Pran Beverages (India) Pvt Ltd.
During the 11-month (April-February) period this fiscal, FDI inflows into India declined by 25 per cent to USD 18.3 billion.
New Delhi: With an aim to attract larger FDI inflows into the country, government has decided to liberalise foreign investment policy.