| 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 28 proposals of Foreign Direct Investment amounting to around Rs. 226.00 Crore. The major investment proposals pertain to software development, engineering, consultancy and NBFC activities. A list of proposals cleared is enclosed.
( M.S. SRINIVASAN ) |
FIPB MEETING HELD ON 26.04.2001
(No.13/2001)
| S.No. | Name of the Company . | Activity | Percentage of FDI/NRI investment | Amount of FDI/NRI (Rs. In crores) |
| 1 | M/s. Essilor International, France |
Manufacture of plastic opthalmic lenses | Amendment in the existing FC approval | No fresh inflow is involved |
| 2 | M/s. NEI Properties Ltd |
To promote trade between India and CIS countries | Extn. of validity | No fresh inflow is involved |
| 3 | M/s. Luxasia Investment Pte Ltd, Singapore |
Wholesale trading in branded cosmetic products | 100% | 2.70 |
| 4 | M/s. Eduquity.com Pvt Ltd |
Management consultancy | 60% | 1.35 |
| 5 | M/s. Compaq Financial Services A/P, LLC |
Financing and leasing of information technology products and solutions to consumers in India | 75% | 23.50 |
| 6 | M/s. Krishna Maruti Ltd |
Car seat assemblies | Amendment in the existing FC approval | No fresh inflow is involved |
| 7 | M/s. Sona Okegawa Precision Forgings Ltd |
Manufacture of precision hot die forged gears and synchronizer rings | Amendment in the existing FC approval | No fresh inflow is involved |
| 8 | M/s. Premier Instruments & Controls Ltd |
Manufacture of various automobiles components | Amendment In the existing FC approval |
No fresh inflow is involved |
| 9 | M/s. Hongo India Pvt Ltd |
Manufacture of automobile components | Increase in foreign upto 95% | 1.17 |
| 10 | M/s. Greysham Railway Friction Productions (P) Ltd |
Manufacture, assembling, supplying and marketing of low friction composite brake blocks/systems | Amendment In the existing FC approval |
No fresh inflow is involved
|
| 11 | M/s. Officine Lovato Spa, Italy |
Manufacture of gas conversion kit | 100% | 2.00 |
| 12 | M/s. California Software Co. Ltd |
Computer Software development and consultancy services | Transfer of NRI equity to foreign collaborator | 0.75(at par) |
| 13 | M/s. Intel Technology India (P) Ltd | Software development | Issue of Redeemable preference shares | 99.00 |
| 14 | M/s. India Connection Com Inc., USA |
E-Commerce Software application | ___ | No Inflow |
| 15 | M/s. Mdoffices.com., USA |
Development of high-end software for the healthcare industry | 100% | 94.00 by the year 2005 |
| 16 | M/s. Prumatech Services Pvt Ltd |
Software solutions | Increase in foreign equity from 74.36% to 87.14% | 0.03 |
| 17 | M/s. Vel Micro Solutions Pvt Ltd |
Software solutions | Increase in foreign equity from 88.11% to 100% | 0.0056 |
| 18 | M/s. Mahanagar Gas Limited |
Distribution of Natural Gas to domestic industries and commercial and transportation consumers | Amendment In the existing FC approval |
No fresh inflow is involved |
| 19 | M/s. British Gas Asia Pacific Holdings Pte Ltd, Singapore |
Transportation, distribution and supply of Natural Gas and botting and marketing of LPG | Amendment In the existing FC approval |
No fresh inflow is involved |
| 20 | M/s. BHP Petroleum India Pvt Ltd |
Setting up of special purpose holding company to make downstream investments in Petroluem & Natural gas sector | Amendment In the existing FC approval |
No fresh inflow is involved |
| 21 | M/s. Indo Cale Power Ventures Pvt Ltd |
Setting up combined cycle power plant based on Naphtha fuel | Extension of validity | No fresh inflow is involved |
| 22 | M/s. Bnavi Shipping Pvt Ltd | Ship owners, shipping agents and any other business or operation carried out by shipping companies | 60% | 0.15 |
| 23 | M/s. Levi Strauss India Pvt Ltd |
Amendment in FC approval
|
__ | No Inflow |
| 24 | M/s. Shaffer India Ltd |
Providing repairing and services to oil and gas field equipment, blow out preventers | Amendment In the existing FC approval |
No fresh inflow is involved |
| 25 | M/s. Logic Eastern India Pvt Ltd |
Business of client functionality specific hardware designing | 99.99% | 1.58 |
| 26 | M/s. First & 42nd (India) Pvt Ltd |
Management consultancy in the area of corporate communications | 100% | 0.01 |
| 27 | M/s. C.G. Igarashi Motors Ltd |
Electric Micro Motors | Increase in foreign equity from 40.15% to 44.98% | 0.57 |
| 28 | M/s. HDFC Ltd | Housing finance | Acquisition between the foreign entities | No physical inflow is involved |