Government of India
Ministry of Commerce and Industry
Department of Industrial Policy and Promotion
( Foreign Collaboration Division )
.........
Udyog Bhavan, New Delhi
dated, the 3rd February, 2000.
PRESS RELEASE
On the recommendations of the Foreign Investment Promotion Board (FIPB), the Commerce & Industry Minister Shri Murasoli Maran has approved 31 cases of Foreign Direct Investment of about Rs.402.42 crores. The proposals cover various sectors like consultancy services, investment services, computer software development, prospecting and exploration of minerals, Internet services, manufacture and export of garments, manufacture of machinery and equipments, etc. A list of proposals cleared is enclosed.
( Ashok Kumar )
Joint Secretary to the Government of India
| Sl. No. |
Name of the Applicant |
Activity |
Percentage of FDI/NRI equity |
FDI/NRI Amount (Rs. Crores) |
| 1 | M/s. Farmachem SA India Pvt Ltd | Buying, selling, dealing, trading, importing and exporting of all goods, items and products including pharmaceuticals etc. | 70% | 0.175 |
| 2 | M/s. Techimont ICB Ltd | Consultancy services in the field of chemicals, mechanical, metallurgical mining | Increase from 50% to 100% | Euro 0.45 |
| 3 | M/s. Concorde Motors Ltd | For establishing automobile retail and after-sales company |
--- |
---- |
| 4 | M/s. Sunrider International, USA | Mfg. and mktg. Herbal based nutritional, personal care products | 100% | 118.25 |
| 5 | M/s. UT Holdings (Mauritius) Ltd | For ssetting up of 100% management advisory company |
----- |
----- |
| 6 | M/s. Infinity Technology Trustee Pvt Ltd | Investment company |
107.50 | |
| 7 | M/s. Tecumseh India Pvt Ltd | Mfr. and sale of compressors, condensing units and related controls for refrigeration and air-conditioning |
------ |
------- |
| 8 | M/s. Spicer Heavy Axle Holdings, Inc | Mfr. and sale of axle components for commercial vehicles and other types of automotive and off-highway vehicles | 50% | 2.04 |
| 9 | M/s. Clips India Pvt Ltd | Providing international standard printing and stationery products |
------ |
------ |
| 10 | M/s. Freemarkets Inc., USA | Develop and maintain software applications on behalf of free markets |
----- |
------ |
| 11 | M/s. Mindtree Consulting Pvt Ltd | Develop and export of computer software | Increase from 36.86% to 39.30% | 0.41 |
| 12 | M/s. Satyam Computer Services Ltd | Software Development | Increase from 27.05% to 40% | 7.28 |
| 13 | M/s. Scala ECE (Overseas) Ltd, Cyprus | Software development | 100% | 0.00 |
| 14 | M/s. TexWorld.Com Inc. | Development of Software technology | 100% | 2.00 |
| 15 | M/s. MFS GlobeNet, Inc., USA | Providing wide range of global data networking products | 100% | 4.30 |
| 16 | M/s. Four Soft Pvt Ltd | IT supply chain solutions in the software applications etc. | 80% | 17.20 |
| 17 | M/s. ADA Software & Services Pvt Ltd | Computer Software Development | Increase from 21% to 24% | 0.0088 |
| 18 | M/s. C.S. Software Enterprises Ltd | Computer Software Development | 10% | 0.50 |
| 19 | M/s. IGSP Technology Centre India Pvt Ltd | Computer Software Development | 100% | 1.00 |
| 20 | M/s. BHP World Explorations Inc., Canada | Prospecting and exploration of minerals etc. | 100% | 8.60 which will go upto 21.50 over a period of 5 years |
| 21 | M/s. Reliance Industries Ltd | Setting up of two LNG receipt terminal |
----- |
----- |
| 22 | M/s. Sai Shipping Company Pvt. Ltd. | Trade and business of shippers, ship-owners, ship brokers etc. | 80% | 0.06 |
| 23 | M/s. Easynet Global Pvt Ltd | Internet Service Provider | 49% | 52.20 |
| 24 | M/s. Mahaveer Infoway Ltd | Internet Service provider | 2.57% | 0.07 |
| 25 | M/s. Dextrous Faber Pvt Ltd | Mfr. of windcheaters/ windjackets |
----- |
---- |
| 26 | M/s. Ovens Broakaway | Mfr. of Glass container |
------- |
----- |
| 27 | M/s. Tefal India Household Appliances (P) Ltd | Mfr. of nonstick cookware, pressure cookers and small electrical household goods |
----- |
----- |
| 28 | M/s. Infra Impex Pvt Ltd | Import and export trading in granite, marble and travertime raw materials and finished goods and various other products | 80% | 0.10 |
| 29 | M/s. Sun Chemical Group B.V., The Netherlands | Mfr. of printing ink | 25% | 26.68 |
| 30 | M/s. Transitions Optical Group | Mfr. of hardcoating imported lenses etc. | 100% | 8.60 |
| 31 | M/s Chrysalis Capital I, LLC | Information & Technology | 100% | 45 |