| Government of India ***
Udyog Bhavan, New Delhi-110 011 PRESS RELEASE On the recommendations of the Foreign Investment Promotion Board (FIPB), the Commerce & Industry Minister Shri Murasoli Maran has approved 25 proposals of Foreign Direct Investment amounting to around Rs. 1118.00 Crore. The major investment proposals pertain to steel industry, software development and IT services, NBFC activities, manufacture of mechanical & electrical equipments and components. A list of proposals cleared is enclosed.
(M. S. SRINIVASAN) |
S. No. |
Name of the company |
Activity |
Percentage of FDI/NRI investment |
Amount of FDI/NRI inflow (Rs. In crores) |
| 1. | M/s. TFL Leather Technique Pvt Ltd | Bulk import of specialized leather chemicals and selling the same to tanners/leather goods manufacturers in India | Amendment in the existing FC approval | No additional inflow is involved |
| 2 | M/s. Duflon Polymers Pvt Ltd | Customised PTFE/FEP/PFA/TEFZEL/PUDF/ECTFE | 24% | 0.26 |
| 3. | M/s. Safilo International BV | Import and wholesale of ophthalmic frames and sunglasses and providing marketing and after sales maintenance support | Amendment in the existing FC approval | No fresh inflow is involved |
| 4. | M/s. TT&G Trading |
Bulk import & ex-bonded warehouse sales of alcoholic and non-alcoholic beverage products | 50% | 0.50 |
| 5. | M/s. Harlow Butler Merwanjee Forex Pvt. Ltd. | Foreign exchange broking | Amendment in the existing FC approval |
No fresh inflow is involved |
| 6 | M/s. Garban Intercapital IL Ltd | Securities and fixed income broking | Amendment in the existing FC approval |
No fresh inflow is involved |
| 7 | M/s. South African Breweries India Pvt Ltd |
Setting up of holding investment company to make investment in the brewery sector | Downstream acquisition | 120.00 |
| 8. | M/s. Heraeus Kulzer Dental India Pvt Ltd | Manufacture and distribution of dental products including alloys, denture base, alginate, composites, teeth, dental equipments | Amendment in the existing FC approval | No fresh inflow is involved |
| 9. | M/s. Smiths Group Plc., UK |
Manufacture, design, quality management, marketing, sales and service of a wide range of shaft couplings and other related rotating equipment accessories | Increase in foreign equity from 50% to 100% | 4.70 over a period of 5 years |
| 10 | M/s. Hagemeyer NV | Development of design centre, chip programming centre, supply of electrical products and electronic components to Indian customer | 100% | 23.50 over a period of 5 years |
| 11. | M/s. Toonz India Animation Ltd | Computer Software Development | Amendment in the existing approval | No fresh inflow is involved |
| 12. | M/s. Gateway Inc | To carry on the activities in areas relating to offering hardware platforms, computer systems and storage devices, computer consultancy, software etc | Amendment in the existing FC approval | No fresh inflow is involved |
| 13 | M/s. Gilat Satellite Networks (Holland) BV. | Hardware, software support relating to satellite and auxiliary/ ancillary equipment | Amendment in the existing FC approval | No FDI inflow |
| 14 | M/s. Chrysalis Raga, LLC., Mauritius |
Developing software solution and productions in the IT sector | 10% | 47.00 |
| 15 | M/s. GL Communications (India) Pvt Ltd | Development of software solutions | 99% | 1.50 |
| 16 | M/s. Alden Prepress Services |
Computer software development | Transfer of two equity shares of Rs. 10/- each | No fresh inflow is involved |
| 17 | M/s. Moody’s Investment India Pvt Ltd |
To act as a special purpose vehicle for expanding credit ratings and analysis in the domestic market | Increase in foreign equity from 13.84% to 20.84% | 5.95 |
| 18. | M/s. Munoth Industries Ltd | Software exports and portal developments, knitwear and mfr. assemble and trade mobile phone and other products |
70% | 1.75 |
| 19 | M/s. Intertoll India Consultants (P) Ltd | Operations and maintenance service provider to Noida Toll Bridge Co. Ltd | Amendment in the existing FC approval | No fresh inflow is involved |
| 20 | M/s. Uttam Steel Ltd | Manufacture of cold rolled annealed and un-annealed sheets and coils | Induction of F.E in an existing company | US$ 170 million (Rs.800 crores) |
| 21 | Ms. Davina Anne Taylor | Running resort & tourism centre | 99.99% | 0.20 |
| 22 | M/s. Nortels Service Apartments Pvt Ltd | The business of service apartments with attendant facilities | 80% | 1.23 |
| 23 | Ms. Otis Elevator Co | Manufacture of lifts, escalators and trav-o-laters | Increase in foreign equity from 68.90% to 100% | 109.24 |
| 24 | M/s. Borg Warner Turbo Systems Worldwide Headquarters, GmbH, Germany | Manufacture of turbo chargers and turbo charger component parts | 32.608% |
1.30 |
| 25 | M/s. Topconcrete Pvt Ltd | Manufacturing of Ready Mixed Concrete and concrete related products and building materials | 100% |
1.00 |