Photo: Pradeep Gaur/Mint
Photo: Pradeep Gaur/Mint

FIPB to take up 15 foreign investment proposals on 26 September

The 240th meeting of the FIPB will have 15 items on the agenda, including the applications of Idea Cellular Infrastructure Services, and Sharekhan

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

The 240th meeting of the 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 foreign direct investment (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 a slew of measures in the recent past to boost FDI into the country. On 20 June, the government had “radically liberalized" 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 has resulted in increased FDI inflows at $55.46 billion in 2015-16, as against $36.04 billion in 2013-14.