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| Foreign Direct Investment Has FDI in real estate opened up new routes for NRIs to patronize for their homeland? |
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29-11-07
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Junior Member
Join Date: Oct 2006
Posts: 69
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More than 50 FDI proposals pending
"The proposals are pending... for want of complete information," Minister of State for Industry Ashwani Kumar said in a written reply to the Rajya Sabha. As on August 2007, FDI approvals stood at $2.4 billion, while inflows were to the tune of $6.4 billion, he said. FIPB is a body that recommends FDI proposals, that are not routed through the automatic path, to the Finance Minister. In a separate reply, Kumar said FDI inflows in the housing and real estate sector during January-August 2007 stood at $693.99 million. As per the present policy, 100 per cent FDI is allowed on the automatic route in construction development projects. ET, 28th Nov'07 |
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