FDI to flood the Indian markets and accelerate the growth
The Foreign Investment Promotion Board (FIPB) has cleared 19 FDI proposals including that of Walt Disney Company and Reckitt Benckiser (India) entailing total investments of Rs 2,326.72 crore. The Finance Ministry in a press release in its meeting held on June 11, 2014, mentioned that based on the recommendations of FIPB, the Government has approved 19 proposals of foreign direct investment (FDI) amounting to Rs 2,326.72 crore approximately.
It rejected foreign investment application of George Institute for Global Health (Hyderabad), BIESSE Manufacturing Company (Bangalore) and three others.
The Finance Ministry further said decision on seven FDI proposals has been deferred. These include proposal of AhlconParenterals (India) (pharmaceutical sector), Indian Rotorcraft Ltd (defence) and UBM Medica India (print media).
Reckitt Benckiser (India) has got the permission to acquire 23.72 % paid up share capital of Reckitt Benckiser Healthcare India Ltd from its Reckitt Benckiser (Singapore) Pvt Ltd. This means that the pharma sector will see a good growth in India. It entails investment of Rs 725 crore.
India Inc. is also hoping that this FDI helps the R & D sector in the pharmaceutical companies as the focus on developing new products have always been low in India. However the same Indian scientists go to the US, Europe, Canada and do research and find new products adding to the top line of those companies.
The other investment proposals cleared are that of TTK Protective Devices (Chennai), BNP Paribas India Holding, Pfizer Ltd (Mumbai), News Laundry Media, J2 Global Ireland, Morgan Stanley Global Services Mauritius (Mauritius) and Brightstar Infrastructure (Mumbai).
Source- The Financial Express
AhlconParenterals (India) (pharmaceutical sector), BIESSE Manufacturing Company, BNP Paribas India Holding, FIPB, foreign direct investment, Foreign Investment Promotion Board, Indian Rotorcraft Ltd (defence), J2 Global Ireland, Morgan Stanley Global Services Mauritius, News Laundry Media, Pfizer Ltd (Mumbai), TTK Protective Devices (Chennai), UBM Medica India (print media)
