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Government approves three (3) proposals of Foreign Direct Investment (FDI) amounting to ₹ 60.73 crore approximately; recommends one proposal for approval of CCEA involving FDI of ₹ 12973.14 crore

News and Press Release - Dated:- 18-5-2016 - Based on the recommendations of the Foreign Investment Promotion Board (FIPB) in its 234th meeting held on 29th April 2016, the Government has approved three FDI proposals involving FDI of ₹ 60.73 crore (which includes post facto amount of ₹ 0.25 crore), and recommended one proposal involving FDI of ₹ 12,973.14 crore for approval of Cabinet Committee on Economic Affairs (CCEA). The following three (03) proposals have been approved: 1 .....

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470 equity shares by certain NRIs and resident shareholders for an aggregate consideration of Rs. 60 crore. Pharma 60 2. The following one (01) proposal has been recommended for approval of Cabinet Committee on Economic Affairs (CCEA) under para 5.2.2 of the extant FDI Policy, 2015: S. No. Item No Name of the applicant Gist of the proposal Sector FDI (Rs. crore) 1 3 M/s Axis Bank ltd Approval to increase foreign investment by FIIs / NRIs/ FPIs / ADRs / GDRs from 62% to 74% on a fully fungible ba .....

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received in January 2010 Construction 2 6 DCNS To set up a company in India (IndiaCo) for the purposes of conducting the business of undertaking design and industrialization studies, research and development activities and manufacturing and maintenance in relation to air independent propulsion systems for submarines Defence 3 8 Wuxi Yushou Medicare Private Limited Post-facto approval for receiving foreign investment of 0.87 crores from Wuxi Yushou Medical Appliances Co. Ltd in November 2014, wi .....

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