Inter-ministerial body FIPB(Foreign Investment Promotion Board) cleared six foreign investment proposals out of seven proposals including that of IIFL Holdings, and Sharekhan worth about Rs 1,900 crore headed by Economic Affairs SecretaryShaktikanta Das.
7 FDI proposals
- Monsoon Capital LLC, SeQuent Scientific Ltd, Agile Electric Sub Assembly and Serap India are approved.
- One proposal of Volkswagen Finance Pvt Ltd was rejected
About FIPB :
- Foreign Investment Promotion Board (FIPB)is a national agency of Government of India, with the remit to consider and recommend foreign direct investment (FDI) which does not come under the automatic route.
- It provides a single window clearance for proposals onFDI in India.
- FIPB Chairman : Economic Affairs Secretary Shaktikanta Das.
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