The Foreign Investment Promotion Board (FIPB) has cleared 14 foreign investment proposals including Shyam Sistema Teleservices, IIFL Holdings, Eros International Media, Indian Rotorcraft, AGS Transact Technologies and O-Zone Networks, out of 23 FDI proposals considered in its meeting chaired by Economic Affairs Secretary Shaktikanta Das.
FIPB has however deferred five FDI proposals including that of Reliance Globalcom, Firefly Networks, Apollo Hospitals and Aegon Religare Life Insurance, while four foreign investment proposals were rejected.
As per the data of Department of Industrial Policy and Promotion (DIPP), in the financial year 2015, FDI grew 27 percent year-on- year to $30.93 billion as compared to $24.29 billion in financial year 2014. In the last financial year, FIPB had received 350 proposals and in 11 meetings cleared 241 of them.