Foreign Investment Promotion Board

  • India approves 20 FDI proposals worth $146 million November 20, 2013

    The Foreign Investment Promotion Board has approved 20 foreign direct investment proposals worth 9.16 billion rupees, a finance ministry statement said on Tuesday. The board also recommended private sector Federal Bank's foreign investment plan amounting to 14 billion rupees to the cabinet panel, the statement said. ...
  • FIPB to discuss Rs 2,058 crore Jet-Etihad deal today July 29, 2013

    New Delhi: The Foreign Investment Promotion Board (FIPB) on Monday will discuss the contentious Rs 2,058 crore Jet-Etihad deal. The FIPB had earlier deferred approval to the deal on the basis of certain provisions in the previous shareholders' agreement and commercial cooperation agreement, which it said gave more powers to...
  • Telenor gets FIPB nod for hiking stake in Uninor June 14, 2013

    New Delhi: Government on Friday allowed Norwegian telecom firm Telenor to increase stake in its Indian arm from 49 per cent to 74 per cent at an estimated equity infusion of around Rs 934 crore. "Telenor proposal has been approved," Economic Affairs Secretary Arvind Mayaram said after the meeting of...
  • FIPB defers decision on Jet Airways-Etihad deal June 14, 2013

    New Delhi: The Foreign Investment Promotion Board (FIPB) has deferred a decision on Gulf carrier Etihad Airways' planned 24 per cent stake buy in Jet Airways, the country's economic affairs secretary said on Friday. The board has sought more details on "effective control" and ownership, Arvind Mayaram said. After the FIPB,...
  • Govt clears 8 FDI proposals worth Rs 696 crore May 31, 2013

    New Delhi: The government on Friday said it has approved eight FDI proposals worth Rs 696 crore, including those of ACME Solar Energy, GETIT Infoservices and McKinsey & Company. The Foreign Investment Promotion Board (FIPB) cleared the proposal of ACME Solar Energy to bring in foreign investment worth Rs 275 crore,...
  • IKEA goes local; expects to open stores in India in 4 to 5 years March 7, 2013

    Malmo: Without a willingness to lug cheap flat-pack wardrobes home and wrestle with self-assembly, there would be no IKEA, but in Asia, where the locals have other ideas, the Swedish furniture giant thinks it still has a bright future. As it expands in China and prepares to break into India,...
  • IKEA's Rs 10,000 crore investment gets FIPB nod January 21, 2013

    New Delhi: The Foreign Investment Promotion Board (FIPB) has given approval to Rs 10,000 crore investment proposal of Swedish furniture major, IKEA. The company will now be able to sell all its products and set up cafeterias at its retail stores. The FIPB, which is the nodal agency for approving foreign...
  • Govt clears IKEA's proposal to invest in single-brand retail November 20, 2012

    New Delhi: Government's single-window body to clear foreign investment proposals, FIPB, on Tuesday cleared Swedish furniture major IKEA's Rs 10,500-crore project, the largest FDI in single-brand retail so far. The Foreign Investment Promotion Board (FIPB) has approved the proposal of IKEA, Economic Affairs Secretary Arvind Mayaram said after the board...
  • Aircel-Maxis deal: Govt defends Chidambaram May 8, 2012

    New Delhi: Government on Tuesday dismissed as "factually incorrect and totally baseless" news reports the then Finance Minister P Chidambaram had delayed clearance by Foreign Investment Promotion Board (FIPB) to Aircel-Maxis deal in 2006. In a statement, the government said it had earlier issued a press release on April 28 regarding...
  • Govt clears Hutch-Vodafone deal April 27, 2007

    New Delhi: The Government on Friday cleared British telecom firm Vodafone's application for buying a majority stake in India's fourth-largest mobile operator Hutch-Essar Limited (HEL). Vodafone, the world's largest mobile operator in terms of revenues, had bought a controlling 52 per cent stake in HEL from Hong Kong-based Hutchison Telecom International...