Government of India
Ministry of Commerce & Industry
Department of Industrial Policy and Promotion
(Foreign Collaboration Division)
Udyog Bhavan, New Delhi-110 011
Dated, the 5th June, 2000.
PRESS RELEASE
On the recommendations of the Foreign Investment Promotion Board(FIPB), the Commerce & Industry Minister Shri Murasoli Maran has approved 95 Cases of Foreign Direct Investment of about Rs. 3490.00 Crores. The proposals cover various sectors like Agriculture, Chemicals & Petro-chemicals, Computer software, automobile components, telecom value added services, food and beverages, power, Textiles, consumer products, manufacturing of equipment and components, financial services, NBFC Activities, construction and tourism sector, Cable Network. A list of proposals cleared is enclosed.
( A.C. DUGGAL )
DIRECTOR
| S.No. | Name of the applicant | Activity | Percentage of FDI/NRI equity | FDI/NRI Amount (Rs. In crores) |
| 1. | M/s. DSQ Bio-tech Ltd | Mfr. of Agro Products | Amend-ment in the existing approval | No fresh inflow involved |
| 2. | M/s. Engelhard Asia Pacific Enterprises (I) Pvt Ltd | Setting up of 100% WOS which act as a holding company and also for enlargement of activities | transfer 10% foreign equity of the Indian company in favour of new Japanese collaborator | 0.76 |
| 3 | M/s. International Gemmological Institute (India) Pvt Ltd | Issue of Geometrical reports for diamonds, for coloured stones, etc | 100% | 0.395 |
| 4 | M/s. Surajami Investment & Trading Company Ltd | NBFC Activities | 100% | 55.40 |
| 5 | M/s. Bausch & Lomb South Asia Inc., USA | Mfr. Mktg. And sale of Soft Contact Lenses etc. | 100% | 43.00 |
| 6 | M/s.AVK-SEG & Controls (I) Pvt Ltd | Mfr. Of Current Transformers, Protection Relays and Alternators | Req. for addition in activity/ item of mfr and payment of royalty |
No fresh inflow involved |
| 7 | M/s. Korin India Ltd | Relaxable assembly for automobiles | Req. for lumpsum payment of Royalty | No fresh inflow involved |
| 8 | M/s. Briggs of Burton (India) Pvt Ltd | Mfr. Of Indl. Machinery for food and textile industries | Increase from 51% to 100% | 0.74 |
| 9 | M/s. Fowler Westrup (I) Pvt Ltd | Mfr of agricultural products processing machinery and transformer oil conditioning equipment | 50% | 3.00 |
| 10 | M/s. Abbas Bhai Najmi | Mfr. Of Industrial tools | 29% | 0.11 |
| 11. | M/s.Technicall.Com. | Software development | Amend-ment in the existing approval | 0.42 |
| 12 | M/s. Digital Software Exports Ltd | To coordinate and work closely with various educational institutions for class room/distance learning etc. | Req. For extension of validity of FC approval | No fresh inflow involved |
| 13 | M/s. In. Net IT & Telecom India Pvt Ltd | To carry on install, maintain, operate and market the features and capabilities of an Internet portal for gathering, formatting and disseminating information to the internet users etc. | Addn. In activity | No fresh inflow involved |
| 14 | M/s. Smart Data Enterprises(India) Ltd | Software Development | Decrease from 80% to 79.73% | 0.06 |
| 15 | M/s. ITB (India) Pvt Ltd | Development of computer Software and Computer applications | Increase from 50% to 60% | 0.01 |
| 16 | M/s. Raft Software Pvt Ltd | Software development | 100% | 0.01 |
| 17 | M/s. Sesami.com Pte Ltd., Singapore | End-to-end business to business commerce solutions | 60% | 10.75 |
| 18 | M/s. Probity Research & Services Ltd. | Providing information services to individual investors, banks, mutual funds, investment banks and other intermediaries | Issue of ADRs/ ADSs |
537.50 |
| 19 | M/s. Kashyap Radiant Systems Ltd | Software solutions, training & Software development | Increase from 2.81% to 7.02% | 8.34 |
| 20 | M/s. Dell International Incorporated, USA | Undertake specialized, high technology computers systems and storage devices, computer consultancy and solutions, software promotions | 100% | 10.75 |
| 21 | M/s. Worldwide Safety Pvt Ltd | Seamless knitted or crocheted textiles gloves | 50% | 0.91 |
| 22 | M/s. Ved Webtech Ltd | Software development | 69.18% | 4.00 |
| 23 | M/s. Chinar Software Exports (India) Pvt Ltd | Software development | 28.26% | 0.0399 |
| 24 | M/s. Ramonics Software Ltd | Software development | 51.09% | 6.00 |
| 25 | M/s. R. Systems India Ltd | Software development | 100% | 22.55 |
| 26 | M/s. Can Achieve Consultants Ltd | Providing assistance and consultancy services to Indian companies and professionals in identifying and exploiting business opportunities in Canada and high priority areas like IT and other related fields | 100% | 2.50 |
| 27 | M/s. Ogden Energy Inc. | Render operation and maintenance services to independent power producers | Mention of a Gr. Co. For partial equity subscrip-tion | No fresh inflow involved |
| 28 | M/s. Indian Oil Panipat Power Consortium Ltd | Setting up of power generation plant | 50% | 860.00 |
| 29 | M/s. BHP Steel India Pvt Ltd | Mfr. And roll forming of zinc aluminium coated steel sheets | Addition in activity/item of mfr. | No fresh inflow involved |
| 30 | M/s. Satyam Infoway Ltd | Setting up Public Data Network for providing electronic commercial, internet services | Transfer of 4,37,200 resident equity shares to foreign collaborator | 217.50 |
| 31 | M/s. ATCO Industries Ltd | Weighing scales and to undertake new activity of ISP | 3.55% | 3.81 |
| 32 | M/s. Infraline Technologies (India) Pvt Ltd | Creating and maintaining vertical internet portal for infrastructure projects and assets in India | 40% | 2.11 |
33 |
Mr. John W. Croucher, USA | Mfr. of silk yarns and aromatic oils etc. | 49% | 0.0294 |
| 34 | M/s. Cardamom Tours (India) Pvt Ltd | Providing accommodation and food to foreign tourists | 100% | 0.15 |
| 35 | M/s. Sodexho India Pvt Ltd | To provide management services for Business and Industry etc. | Req. For extn. Of validity of FC approval | No fresh inflow involved |
| 36 | M/s. Enpro India Ltd | Developing infrastructure facilities in the sectors of ports and ancillary, airports etc. | 49% | 0.49 |
| 37 | M/s. BPL Power Projects (AP) Ltd | Developing, construction & Commissioning coal fired thermal power project | 26% | 249.40 |
| 38 | M/s. BPL Power Projects (AP) Ltd | Developing, construction and commissioning coal fired thermal power project and related facilities | 11% | 107.50 |
| 39 | M/s. Solutia Gom India Materials Pvt Ltd | Technical services in formulation of Industrial coating resin systems | Expansion of activities | No inflow involved |
| 40 | M/s. Trasfa International India Pvt Ltd | Mfr. of toilet soaps | 90% | 0.81 |
| 41 | M/s. Genom Biotech Pvt Ltd | Mfr. of Tablets namely metrozol, Coldflu, sign. Etc. | 95% | 0.71 |
| 42 | M/s. Novica Arts and Handicrafts (India) Pvt Ltd | Procuring, mktg. And exporting of high quality Indian Handicrafts etc. | 100% | 0.43 |
| 43 | M/s. Ratna Trading Pvt Ltd | NBFC Activities | 51% | 7.00 |
| 44 | M/s.Maersk India Ltd (MIL) | Container freight services | Addition in activity | No fresh inflow involved |
| 45 | M/s. Merbanc Financial Services Ltd | NBFC Activities | 6% | 0.23 |
| 46 | M/s. Datacraft RPG Ltd | Design, Development, Mfr. And Service of products in the area of Infn. Communication systems, computer networking, Hardware and software | Increase from 55% to 100% | 3.87 |
| 47 | M/s. Associates India Holding Co. Pvt. Ltd | Setting up of holding company to invest in step down subsidiaries/JVs | acquisition of shares by the parent company from its subsidiaries/affiliate cos | No inflow of FDI |
| 48 | M/s. Aptech Ltd | Providing software solutions and rendering consultancy services in the field of Information technology | GDR/GDS Issue | 550.00 |
| 49 | M/s. Standard Chartered Bank, London | NBFC activities | 74% | 37.00 |
| 50 | M/s.Sunrider International | Mfg. and mktg. of herbal based nutritional food products | Amend- ment in FC approval |
No inflow involved |
| 51 | M/s. EffemIndia (Pvt) Ltd | Cocoa based confectionery products | Expansion of activities | No inflow of FDI |
| 52 | M/s. Excelcia Foods Ltd | Mfr. and Mktg. Of cereals/weaning foods etc. | Increase from 60% to 100% | 3.60 |
| 53 | M/s. Finns Frozen Foods India Ltd | Frozen vegetables & Fruits | Increase from 99.996% to 99.997 (Issue of fully convertible debentures) |
1.50 |
| 54 | M/s. Indo Asian Fusegear Ltd | Mfr. of miniature relays and contractors and high breaking capacity miniature circuit breakers etc. | Divestment of foreign holding from one India co to another Indian co. Of the same group | No inflow of FDI |
| 55 | M/s. Denso India Ltd | Mfr. of Electrical Automotive parts such as starters and alternators | Payment of Lumpsum | No inflow of FDI |
| 56 | M/s. Damart S.A., France | Undertake the activities of progressive mfr. and distribution of spl. type motors etc. | 100% | 0.50 |
| 57 | M/s. Grant Investrade Pvt Ltd | Will act as holding company for investments in the Cable Network and other related sectors in India | 49% | 214.79 |
| 58 | M/s.Thomas Publishing Co. | Setting up of WOS to publish trade, commerce, mfg. etc. | Restructur-ing of equity and infusion of addl. Fund in a 100% F.C. Co. | 2.12 |
| 59 | M/s. Sun TV Ltd. | Media and Entertainment business | 20% | 5.12 |
| 60 | M/s. Reuters India Ltd | To provide financial infn. Services etc. | Expansion in activities | No inflow of FDI |
| 61 | M/s. Rediff.com | Data processing, software development etc. | ADR Issue (Increase from 49% to 60%) |
322.50 |
| 62 | M/s. Abacus Distribution Systems (Bombay) Pvt Ltd | Promotion, development, operation, mktg of a computerised reservation system | Increase from 60% to 100% | 2.20 |
| 63 | M/s. Surreal Contact (P) Ltd | providing information technology web based software activities etc. | Increase from 20% to 323% | 0.0069 |
| 64 | M/s. Bunka Orient Pvt Ltd | Software development | Increase from 80% to 85% | 11.32 |
| 65 | M/s. Subhuthi Overseas Inc., USA | Software development & services | Equity swap | No fresh inflow |
| 66 | M/s. GOL India Portal Pvt Ltd | Internet related technology and business | 100% | 43.00 |
| 67 | M/s. Steel Kingdom Netcom Ltd | E-commerce and allied services in trading through net | 29% | 1.00 |
| 68 | M/s. Cyber Commerce Pvt Ltd | Internet based business to business e-commerce | Increase from 51% to 74% | 1.31 |
| 69 | M/s. Cyber Astro Inc., USA | E-commerce | 100% | 0.20 |
| 70 | M/s. Standard Chartered Bank, UK | Back-office transaction and data processing, software development etc. | 100% | 3.00 |
| 71 | M/s. Wired World Pvt Ltd | Relevant and a host of solutions and services via the internet and through tele-network | 51.9% | 4.56 |
| 72 | M/s. C.C. Business Solutions Pvt Ltd | Software development | 100% | 5.00 |
| 73 | M/s. Pinnacle Systems Inc. | Wide range of Infn. Technology services | 100% | 0.50 |
| 74 | M/s. Rishima International Pvt Ltd | Generator and export of video software | 90.74% | 50.00(Issue of 100% preference shares amounting to Rs. 100.00 crore) |
| 75 | M/s. Ram Informatics Ltd | Software development | Increase from 2.1% to 16.7% | 1.00 |
| 76 | M/s. R.R. Mec Tec Ltd | Software development | 58% | 3.16 |
| 77 | M/s. Astro Mining N.L. | Exploration of minerals, precious metals, base metals in various parts of India | 100% | 5.00 |
| 78 | M/s. De Beers Consolidated Mines Ltd | exploration and mining of gold and silver and minerals other than diamond and precious stones | Expansion of activities | No inflow of FDI |
| 79 | M/s. Meta Strips Ltd | Copper alloys, Nickel and Nickel Alloys | Increase from 31.02% to 35.82% | 6.00 |
| 80 | M/s. Wartsila NSD Corporation, Cayman Islands | Developing, constructing and operating a diesel engine based electricity generating facility | 74% | 3.08 |
| 81 | M/s. Associated Container Terminals Ltd | Establishment and operation of inland container depots, container freight stations | Restructuring of foreign investment | No addl. Inflow of FDI |
| 82 | M/s. Transworks Information Services Pvt Ltd | Internet customer service | 26.90% | 10.87 |
| 83 | M/s. Homedicare Singapore Pte Ltd., Singapore | Providing home-centric health care solutions through the internet etc. | 100% | 1.97 |
| 84 | M/s. Micronet Design Systems & Technologies Ltd | Internet Service Provider | 47.62% | 5.00 |
| 85 | M/s. Grant Apparel Pvt Ltd | Embroidered Emblems | Increase from 66.18% to 81.59% | 0.48 |
| 86 | M/s. HFS USA Ltd | Mfr. Sale or deal in all kinds of handicraft items primarily for exports | 90% | 1.07 |
| 87 | M/s. Yangdu Estates Pvt Ltd | Tourism, Health Resort and Holiday Home | Increase from 45% to 99% | 4.45 |
| 88 | M/s. Wybridge Holdings Ltd., Hong Kong | Opening of restaurant outlets | 75% | 20.47 |
| 89 | M/s.Schott Glass India Ltd | Mfr. Special glass tubing and pharmaceutical packaging activity | Extn. of validity of FC approval | No fresh inflow of FDI involved |
| 90 | M/s. JTCI Industrial Parks Pte Ltd, Singapore | Leasing and purchasing of land to develop, construct, own, market etc. | 100% | 3.00 |
| 91 | M/s. Infra Impex Pvt Ltd | Mfr. Of Granite, Marble and travertine raw materials, and finished products and various other products | Deletion of Spl. condition | No FDI inflow involved |
| 92 | M/s. YKK India Pvt Ltd | mfr. Of metallic and non-metallic zip fasteners by using integrated plant | Expansion of activities | No FDI inflow involved |
| 93 | M/s. GE Power Services (India) Pvt Ltd | Setting up of JVC for Stem Turbine, Generator service, Repair & Life Extension, Rehabilitation | Expansion of activities | No inflow of FDI involved |
| 94 | M/s. More Group India Pvt Ltd | Introduction of new concept of providing "Street Furniture" | Increase from 60% to 85.44% | 1.52 |
| 95 | M/s. Navigant Consulting Inc., USA | Providing consultancy services in the field of business and mkt. Strategy etc. | Increase from 50% to 100% | 2.58 |