More than 50 FDI proposals pending

Rex · 11-29-2007

The Government on Wednesday said 55 FDI proposals are pending before the Foreign Investment Promotion Board (FIPB).

"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

11-29-2007	#1
Rex Member Join Date: Oct 2006 Posts: 71	More than 50 FDI proposals pending The Government on Wednesday said 55 FDI proposals are pending before the Foreign Investment Promotion Board (FIPB). "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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