Electronics major has tied up with Reliance Comm and Tata Tele.
The FIPB, headed by Department of Economic Affairs Secretary Arvind Mayaram, discussed 30 foreign direct investment proposals, including 10 from pharma sector.
Reliance Group Chairman Anil Ambani on Tuesday appeared before the Enforcement Directorate here for questioning in a money laundering case linked to alleged multiple bank loan fraud cases worth crores of rupees against his group companies, official sources said.
The company, according to industry sources, is hoping to get an FIPB approval before that. Market sources said the sales team has sounded out October 8 as the launch date. Government had earlier asked Bharti group to seek a separate FIPB approval within three months for its upcoming DTH services.
Swedish bus and truck maker Volvo said on Thursday that it would synergise operations in India by bringing a number of units like exports, IT and component outsourcing, construction equipment, and diesel manufacturing under one entity.
Government is believed to have given the go ahead to cola giant Pepsico to acquire one of its franchisees by bringing overseas funds while making it mandatory on the soft-drink conglomerate to divest 49 per cent equity in the same within five years.
Motorola's long-pending proposal to undertake wholesale marketing, cash and carry stocking and sale of goods has been cleared by the Foreign Investment Promotion Board, the company said in a statement on Friday.\n\n\n\n
DaimlerChrysler plans to buy 26% of the bus body builder Sutlej Motors. The two companies will then jointly manufacture buses for the Indian roads.
Global public relations Burson Marsteller on Monday acquired Genesis Public Relations one of India's leading PR firms for an undisclosed sum.
The Enforcement Directorate has summoned Reliance Group Chairman Anil Ambani for questioning in a money laundering case linked to alleged bank loan fraud.
Finance ministry is understood to have reservations on the ownership of minority stakeholders in Hutchison-Essar and is likely to raise the issue at the FIPB meeting.
The auto major is not just looking at domestic sales, but also planning to ramp up exports to key markets from here, like the Middle East, North Africa and Australia.
Hutchinson Max Telecom Pvt Ltd is planning to consolidate its various telecom operations in India under a single entity, including that of Hutchison Essar Telecom Ltd and Fascel Ltd, for which the company has filed an application with FIPB.
The Foreign Investment Promotion Board is believed to have cleared the proposal of the Netherlands-based Star Diamond group to set up a joint venture in India to undertake diamond business.
The government is likely to give yet another week's reprieve from July 10 to the Star Group allowing its 24-hour news channel to continue operations in the present format.
FDI into the country increased by 30 per cent to $21.62 billion during April-September this fiscal.
'BSE has facilitated nearly Rs 35 trillion in capital raising across multiple segments.'
With response tepid so far from domestic investors, these funds might soon approach FIPB for approvals.
