FIPB on Thursday gave a green nod to 23 foreign investment proposals
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New Delhi: Foreign Investment Promotion Board (FIPB) on Thursday gave a green nod to 23 foreign investment proposals, which will result in inflow of foreign investment of Rs 10,378.92 crore into the country. FIPB has cleared Rs 4,960 crore investment proposal of Mylan Laboratories. As the proposal entails investments of Rs 4,960 crore, FIPB recommended the proposal for approval of the CCEA.
Mylan Laboratories is an Indian arm of US-based Mylan Inc. Kolkata-based Bandhan Financial Services, which has got licence to operate as a full-fledged bank, has got government approval for conversion of pre-existing FDI of 33.14 per cent from an NBFC MFI into core investment company. The proposals entail investment worth Rs 1,049 crore. Other proposals that have been cleared include that of GlaxoSmithKline, Alpha Pharma Healthcare India, Natco Pharma, and Den Networks.
( Source : deccan chronicle/agencies )
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