New Delhi: FIPB will take up 25 foreign direct investment (FDI) proposals, including those of Aditya Birla Nuvo, Cipla, Sun Pharma Advanced Research and HDFC Capital Advisors, on September 22.
"Meeting of the Foreign Investment Promotion Board (FIPB) is scheduled on September 22...Under the chairmanship of Secretary (Economic Affairs)," said an official statement.
In its 224th meeting, the Board will also take up FDI proposals of Strides Acrolab Ltd, Multi Screen Media Pvt Ltd, IVF Trustee Company, Sharekhan Ltd, International Trade and Exhibitions India, Blue Star Infotech Ltd and Gulf Packaging Machines, among others.
India allows FDI in most of the sectors through automatic route, but in certain segments considered sensitive for the economy and security, the proposals have to be first cleared by FIPB.
During the 2014-15 fiscal, FDI grew 27 percent year-on- year to USD 30.93 billion as against USD 24.29 billion in 2013-14, according to the data of Department of Industrial Policy and Promotion (DIPP).
In the last fiscal, FIPB received 350 proposals and in 11 meetings, cleared 241 of them.
PTI
First Published: Thursday, September 10, 2015, 16:03