PRESS RELEASE

The Commerce & Industry Minister has approved 15 cases of foreign technology collaboration/franchise agreements based on recommendations of the Project Approval Board (PAB). In addition 7 cases of Industrial Licence have also been approved.

The Project Approval Board (PAB) in its meeting held on 19.9.2003 under the chairmanship of Shri Rajeeva Ratna Shah, Secretary, Department of Industrial Policy & Promotion, had recommended these cases for approval.

Government has approved Technical Collaboration Agreement between Toyota Kirloskar Motor Private Limited and Toyota Motor Corporation, Japan for the manufacture of new model Multi Purpose Vehicle. This will add to the existing product line up in India.

Government has also approved Technical Collaboration Agreement between Toyota Kirloskar Auto Parts Private Limited and Toyota Motor Corporation for the Engine Assembly for the new model Multi Purpose Vehicle to be launched by Toyota Kirloskar Motor Private Limited.

Another proposal for technical collaboration for the manufacture of LPG/CNG powered three wheeled vehicle by M/s Piaggio Vehicles Pvt. Ltd. in collaboration with M/s Piaggio & C. SPA of Italy has been approved. The new vehicle will be Bharat -II compliant and meet standards of environment pollution.

The Licensing Committee (LC), in its meeting held on 19.9.2003, had also recommended 7 proposals for grant of industrial licences and/or amendments in existing ones. The main sectors/areas of the recommendations include Defence, Bio-Technology, Chemicals and Textiles.

The detailed list of recommended cases would be available on the website of the Department of Industrial Policy & Promotion viz. www.dipp.nic.in.

( R. K Manchanda )

F.No. 3(14)/2003-PAB-IL New Delhi, dated : 26th September 2003