Government of India
Ministry of Commerce & Industry
Department of Industrial Policy and Promotion
(Foreign Collaboration Division)
Udyog Bhavan, New Delhi-110 011
Dated, the 30th January, 2001.
PRESS RELEASE
On the recommendations of the Foreign Investment Promotion Board(FIPB), the Commerce & Industry Minister Shri Murasoli Maran has approved 13 Cases of Foreign Direct Investment of about Rs. 219.00 Crore. The proposals cover various sectors including manufacture and sale of pharmaceuticals and basic drugs including anti cancer drug formulations, information technology & software solutions, ISP related services, telecom services, environmental services and NBFC activities. A list of proposals cleared is enclosed.
( A.C. DUGGAL )
Director
To
Press Information Bureau,
Additional Principal Information Officer,
M/o Commerce & Industry
| Sl. No. | Name of the
Company and Regn. No. |
Activity | Percentage of FDI/NRI investment | Amount of
FDI/NRI inflow ( Rs. In crores) |
| 1 | M/s. eManae Exports Pvt Ltd | Export of silk garments cotton and other garments | 100% | 0.1 |
| 2 | M/s. Astra Pharmaceuticals AB, Sweden | Mfr. And sale of pharmaceuticals and basic drugs | Increase in foreign equity from 25.75% to 51.5% | 86.26 |
| 3 | M/s. Essel Packaging Ltd | Mfr. Of fully collapsible laminated tubes | Equity swap(22%) | No physical inflow involved |
| 4 | M/s. Gagan Pharma Pvt Ltd | Anti Cancer drugs formulations | 60% | 3.00 |
| 5 | M/s. ABN AMRO Asia Corporate Finance (I) Ltd | NBFC activities | Amendment in the existing FC approval | _ |
| 6 | M/s. Orchid Soft India Pvt Ltd | Software supply services | Increase from 90% to 100% | 5.64 |
| 7 | M/s. I.T.Microsystems India Ltd | Information technology & software solutions | Increase from 0.88% to 1.59% | 0.03 |
| 8 | M/s. Design Expo Network Pvt Ltd | Internet Content and portal architecture | 22.01% | 0.03 |
| 9 | M/s. BHP Petroleum India Pvt Ltd | setting up of special purpose company for making investments in Petroleum, power etc. | Amendment in the existing FC approval | _ |
| 10 | M/s. Sporting Frontiers India (UK) Ltd | Development and organisation of sporting events, procure instadia advertisements rights for sporting events etc. | Increase in foreign equity from 74% to 99.9% | 0.47 |
| 11. | M/s. Bharti Telesonic Ltd | Providing domestic long distance telecom operations | 49% | 122.5 |
| 12 | M/s. Maal Bilz India Pvt Ltd | Mfg. Of simple boring and milling tools which utilise Carbide inserts | Increase in equity from 62.50% to 100% | 0.75 |
| 13 | M/s. Al-Amman Belting Exports Ltd | Mfr./export of industrial v belts automotive fan belts | restructuring of foreign equity | _ |