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