The government would be evaluating 31 foreign investment proposals, including those of Ratnakar Bank, Novartis Healthcare and HDFC Bank among others in the coming week. Other investment proposals include that of Lausanne Hospitality Consulting Sa, Switzerland; Sprint Telecom India; Maham Nayyar and Miss Sahar Nayyer, Pakistan; and Symbiotec Pharmalab.
However, out of the total, nine proposals were the ones on which the foreign investment promotion board (FIPB) had deferred a decision in its earlier meetings. The nine proposals include that of Pureplay Investment Partners (Mauritius), INX Music, ASV Europa Security Private Limited, Halyard Health Inc (US) and Beloor Bayir Biotech, Tevapharm India Pvt, GMU Infosoft Pvt, U Infosoft Pvt Ltd, and Monsoon Capital LLC, US.
While India permits FDI in most of the sectors through automatic route, approval of the Foreign Investment Promotion Board (FIPB) in the Finance Ministry is required in certain sectors like pharmaceutical and defence, considered sensitive for the economy.
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