Government of India
Ministry of Commerce & Industry
Department of Industrial Policy and Promotion
(Foreign Collaboration Division)
***
Udyog Bhavan, New Delhi-110 011
Dated, the 14th September , 2000.
PRESS RELEASE
On the recommendations of the Foreign Investment Promotion Board(FIPB), the Commerce & Industry Minister Shri Murasoli Maran has approved 28 Cases of Foreign Direct Investment of about Rs. 161.00 Crore. The proposals cover various sectors like household insecticides, pharmaceuticals, Chemicals, tourism, medical equipments, automobiles, Computer software development, Internet Portal, E-Commerce, re-insurance, development of Ayurvedic drugs and education & career services on internet. A list of proposals cleared is enclosed.
(A. C. DUGGAL)
DIRECTOR
FIPB MEETING HELD ON 04.09.2000
(No.29/2000)
S. No. |
Name of the applicant |
Activity |
Percentage of FDI/NRI equity |
FDI/NRI Amount (Rs. in Crores) |
01. |
M/s. V.R. Equipments Ltd |
Automatic feed conveyors (Bridomat) & (Minimax) for livestock |
Amendment in the existing approval |
No fresh inflow involved |
02. |
M/s. Betts India Ltd |
Aluminium Foil and polymer based laminate tube for the packaging of consumer products |
Amendment in the existing FC approval |
No fresh inflow involved |
03. |
M/s. Apharma Ltd |
Medicaments including veterinary medicaments |
Increase in equity from 50.77% to 59.99% |
0.046 |
04. |
M/s. Godrej Hi-Care Ltd (Now Godrej Sara Lee Ltd ) |
Household insecticides |
Induction of NRI/OCB/FII equity through public offer |
2.55 |
05. |
M/s. Societe Industrielle Liegeoise Des Oxydes S.A., Belgium |
Mfr. And selling inorganic chemicals |
76% |
44.00 |
06. |
M/s. Detroit Diesel India Pvt Ltd |
Providing Mktg. and technical services of diesel engines and related parts, spares and products |
100% |
0.11 |
07. |
M/s. Indian Farmers Fertilizer Cooperative Ltd |
Provide cost effective operations offering a broad range of innovative products, better pricing and high quality of services and better re-insurance arrangements in India |
26% |
26.00 |
08. |
M/s. Hoechst Marion Roussel Ltd |
Mfr. and Mktg. Of Pharmaceuticals |
Employees Stock Purchase Plan |
quantum is not specified |
09. |
M/s. Mac Charles (India) Ltd |
5 Star Hotel |
From 74% to 90% |
1.79 |
10. |
M/s. Dentsply India Pvt Ltd |
Mfr. and Mktg. Of dental equipments, dental products and consumables |
Amendment in the existing FC approval |
No fresh inflow involved |
11. |
M/s. East West Exhausts (P) Ltd. |
Mfr. of exhausts for automobiles etc. |
43.80% |
0.7 |
12. |
M/s. Degremont India Ltd |
Machinery for filtering/purifying liquids |
Amendment in the existing FC approval |
No fresh inflow involved |
13. |
M/s. Baldwin Technology Company Inc.,USA |
Mfr/assembly of accessory and control equipment for printing industry etc. |
100% |
2.25 |
14. |
M/s. Siemens Ltd |
Mfr. And mktg. Of Integrated Wiring Harnesses for the latest generation of Automobiles |
100% |
3.00 |
15. |
M/s. Ayur Care Inc., USA |
To undertake research oriented activities and develop new Ayurvedic Drugs for treating complex diseases |
Amendment in the existing approval by way of adjustment of cost of establishment into equity |
1.00 |
16. |
M/s. Quantum Information Services Pvt Ltd |
Undertake activities relating to Internet Portal and E- Commerce etc. |
Increase in equity from 7.50% to 8.20% |
1.62(including premium) |
17. |
M/s. Indigomarkets Ltd |
To market, sell and license high tech software products etc. |
100% |
0.22 |
18. |
M/s. Indiahit. com Pvt Ltd. |
Internet related activities including e-commerce etc. |
10% |
2.22 (including premium) |
19. |
M/s. Epson Singapore Pte Ltd, Singapore |
Software development etc. |
100% |
27.00 |
20. |
M/s. Nagarro Software Pvt. Ltd. |
Computer Software Development |
100% |
0.02 |
21. |
M/s. BPL Power Projects (AP) Ltd |
Developing, construction and commissioning of coal fired power project and related facilities |
Amendment in the existing FC approval |
No fresh inflow involved |
22. |
M/s. Circle Overseas Corporation, USA |
Airfreight/Ocean Freight, Logistics Management and Cargo consolidation |
Conversion of OCB into equity |
No fresh inflow involved |
23. |
M/s. Ulrike Schoenherr |
Fabrics dying weaving ladies and children garments home textile madeups |
Amendment in the existing FC approval |
No fresh inflow involved |
24. |
M/s. Boorugu Knitts Ltd |
Manufacture of Cotton Socks |
Amendment in the existing FC approval |
No fresh inflow involved |
25. |
M/s. Knights Athletics India Pvt. Ltd. |
Setting up of highly modern technical design unit, sampling unit in the garment manufacture sector |
99% |
0.99 |
26. |
M/s. Rose Furniture Concepts Pvt Ltd |
Mfr. a range of tabular furniture products |
80% |
0.40 |
27 |
M/s. Learning Universe Pvt. Ltd. |
Providing education and career services on the internet and software development |
Increase in F.E. from 25.01% to 40.85% |
47.22 |
28. |
M/s. Celstream Technologies Pvt Ltd |
software Services |
Increase in foreign equity from 35.62% to 44.5% |
0.17 |