Seems like we are on track with the
FDI structuring in India. FDI is high on the list of the new
Modi government and today the
Foreign Investment Promotion Board (FIPB) cleared a lot of FDI proposals. This comes as good news for many foreign and Indian companies as they have been waiting to get the sign off from the
Indian government for the
investments.
The committee was handed a list of 35 proposals in various sectors and by multiple companies, out of which FIPB gave the go ahead to 21 of them. Bharti shipyard was the lucky one to get the go from the board, whereas Sistema Shyam’s request to raise foreign holdings was denied. Others who got the right to pass is
Verizon who got 100% FDI approved, Kineco Kaman Composites India in the defence sector and ANZ capital in
finance sector.
This should give a boost to the
Indian economy, which is slowly yet steadily rising. The move will also give more confidence to foreign investors.
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